This chart is meant to be studied.
Trades setups are for New York session.
This is more of an analysis of where price is likely to go, and then entry/exit is up to you.
The analysis is derived from five core concepts:
1. Each trading session (Asian, London, and New York) acts different and has a job
-Asian session tends to consolidate and trap traders in both directions
2. Each trading session interacts with the sessions around it
-Part of the analysis looks at the high of Asian session as a resistance zone
3. Price acts the same day after day
-A bullish engulfing bar will always represent buying pressure
4. Price interacts with places of high and low volume
-Part of the analysis uses volume point of control to find areas of interest
5. Price will move quickly in one direction, then slow down and reach exhaustion, at which point it will move in the opposite direction for an undefined amount of time
-A strong push to the upside will be followed by a pullback
Keep in mind nothing is correct 100% of the time. The key to long term success is risk management. If you take a loss, find out why, smile, and wait for another opportunity:)!
Trades setups are for New York session.
This is more of an analysis of where price is likely to go, and then entry/exit is up to you.
The analysis is derived from five core concepts:
1. Each trading session (Asian, London, and New York) acts different and has a job
-Asian session tends to consolidate and trap traders in both directions
2. Each trading session interacts with the sessions around it
-Part of the analysis looks at the high of Asian session as a resistance zone
3. Price acts the same day after day
-A bullish engulfing bar will always represent buying pressure
4. Price interacts with places of high and low volume
-Part of the analysis uses volume point of control to find areas of interest
5. Price will move quickly in one direction, then slow down and reach exhaustion, at which point it will move in the opposite direction for an undefined amount of time
-A strong push to the upside will be followed by a pullback
Keep in mind nothing is correct 100% of the time. The key to long term success is risk management. If you take a loss, find out why, smile, and wait for another opportunity:)!
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