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Huddleston
The Long Term Insight Has Significant Impact On The Near Term
http://youtu.be/1gqnoteIPgg
We will be using
this example in
Price Action to
teach this concept
as it is anchored
to a Live Analysis.
S&R
Clear Level
Both Roles
Old
H&L
An Old High
An Old Low
Range High
Range Low
Range High
Range High
The Range between the Low on this Monthly Swing Low and the High on the 3rd Candle
completing the Swing Low Pattern is your Intermediate Term Dealing Range. We will move
down to a Weekly Chart to further study this Price Action.
Intermediate Term
Dealing Range High
Intermediate Term
Dealing Range Low
Looking at the 60 minute chart we can see the 1.5025 level was
finding Support as we anticipated based on the Longer Term
Macro to the Micro perspective. The yellow & inner white
rectangles depict the higher timeframe OTE zones.
The overlap of London Open & Asian Close was the Timing factor in this trade setup. By having
first laid the ground work in Long Term Macro Perspective on the Monthly, Weekly, Daily, 60
minute and finally 5 minute basis we can arrive at a Directional Bias. Stalking trades only in
this direction is recommended while first developing as a Demo Trader. It will provide the
building blocks needed to assist you in more advanced counter trend trades. Lets take a look
at the results this trade entry offered those savvy enough to see the signs and clues Smart
Money provided the Traders in Cable
As you can see here over 700 pips was the result.
Im sure you are still full of questions and I havent
exhausted my treatise on the topic we will build
on these foundations. Again, I council you to view
the YouTube video I posted before the market
traded as detailed here.
700+ Pips
Directional Bias Trading