▫️Let’s break down this superb trade timeframe by timeframe ▫️One of the the most important factor in our lives is Time. ▫️It also proves to be very important In our trades as well
I will break down this trade in the same way I did when I took it on Friday I use just 4 things in my trading: 1. Recent price Structure ( Supply and Demand) 2. Overall Structure (Support and resistance) 3. Structural moves ( Higher Highs/ Higher Lows ( Uptrend) 4. Structural moves( Lower Highs / Lower Lows ( Downtrend)
▫️First Time frame : Daily Key factor : Resistance level Looking at the daily timeframe you could see that price had reached a previous support now turned into resistance This is a textbook market structure move and is very profitable if traded well
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▫️Second Time Frame : 4 Hour Key factor : Supply Zone Looking at the 4 Hour time frame I saw a nice supply zone and all I was waiting for was the wick rejection and entry on smaller TF
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▫️Third time Frame : 1 Hour Key factor : Structure move ( lower lows ) Look at the 1 hour time frame I observed that the market was now making lower lows Very typical for price to do so in a down trend and that is when I started loading up my lots My stops were above structure and I took the plunge
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▪️I hope this breakdown can help you in executing your own trades too and using multi time frame analysis