Hi everyone, recently ive been reading this book "long term secrets to short term trading which was recommended to me by a fellow trader on this platform. I wanted to share some insight to market structure as the authour puts a huge emphasis on how important it is.
on the 4hr TF using pair EUR/USD we look at the different types of lows/highs that can be drawn upon. I wanted to share this with you all because i think the importance and recognition of reducing volume/noise/chaos in the short term lows can be reduced by focusing on intermediate and long term lows. Those who struggle with targeting correct levels should read this book as it opens a new perspective of reading charts and understanding market structure.
back to the book i am reading. This is placing a huge emphasis on market structure like said before. Currently, im looking at the idea of trailing stops which is a smart idea. Generally speaking these would be placed under short-term highs/lows were the market bounces off from.
I am also looking at opening/closing of the day and what it means to be doing this, i really think this is important and is vital to price action.
using opens and closes as a guide to predict market trend. used 4hr trendline for entry and a liquidity point (trendline liquidity) . can use fvg if you would like when zooming out on the 1hr TF
