I have gravitated toward the Elliot Wave school of thought, I have video courses on the subject but am having trouble actually identifying wave structures in actual market conditions, it seems the market rarely presents textbook markers, does aNYONE OUT THEREHAVE Advice that can help me move forward?
I would suggest that you take the 1M chart of your chosen pair, and record major price highs and lows throughout the first four hours minimum - 240 candles to look at. Although tedious, then you’ll begin to learn how the market moves. Keep that up for a week and you’ll be in the zone.
When you have that initial understanding, the Elliott Waves pattern starts to make sense. Alternatively higher highs and higher lows breaking a resistance level signals an entry uptrend and the opposite in a downtrend.
thanks steve I appreciate your help!
Hi and welcome! We have all been there once and so, there is nothing that you should be worried about. You must ensure that you study well so that you can understand price and market movements. When you understand them, you can make your decisions accordingly.