Dear guys,
I am new, hope I don’t bother.
I think that nobody can understand where the liquidity is going without having a look at the liquidity. Since in trading there are no damn patterns, there are no damn good ideas. But I have a friend with much more hair in the stomach than I got. He is capable to tune his software to a gian mass of M1 bars and get some relevant ideas on the pivotal ticks (i.e. relevant levels of the day -> in pa they call them demand and supply areas).
So I asked: ‘My friend, what timerame do you trade? M1?’
He replied: ‘H4, of course’
He explained me that his thing was able to derive H4 from H2 from M30 from M7 from M1.
So I asked: ‘My friend, and what about news, events and rumors?’
He replied: ‘There we go… I always lose money when something happens. But at the end of the month I am on big plus because I hedge a lot’
So my idea about trading has recently evolved into the following: get as much information as you can from as many bars as you can and when you are completely sure about your trade, just place it… But place also an opposite one, cause it is just when you are very sure about some level that you are gonna lose the stop loss.
The Start is to get price action on many many daily attempts in the same price area by screening as many m1 bars as possible. On the other hand, Daily Areas are also bind to fibo and to monthly trendlines.
