yes hindsight, Im just trying to observe the price action and thinking in terms of buyers and sellers no more for the moment, the trades will come later
January 27th Premarket (1hr) 1m (part1) 1m (part2) 1m (part3) I got some questions regarding to premarket prep (the hourly time frame), perhaps someone could give me a clue about it: 1) During the premarket analysis, what type of zones do you draw in order to have in mind? I would like to know if what I’m doing is correct. For example today, first I draw the most immediate context such as: High – Low – Middle of the ON range and the same levels for the previous day, later I draw the swing points and finally I draw the middle of the previous former ranges. 2) And the other question is how much validity has former middle points of previous ranges (grey zones on the chart) if the price has already pass through it several times? Would you give more weight to swing points or former middle of ranges? All constructive comments are welcome thanks
If by hourly time frame you mean the 60m bar interval that you illustrate in the first chart in your post, I don't do any of that, except for the last hinge you have drawn. But there is no "correct". If you find doing all that helpful in order to familiarize yourself with the territory, then do it. What I look at it is illustrated in the most recent series of posts at TL (the first five charts). Right now, for example, all that matters, at least to me, is that we're trying to get past the November high. If we do, whatever happened to get us here will be old news.
Holy smokes, DbPhoenix, I thought that place was dead out of business. I tried to visit a few weeks ago and kept getting a "check the url" message.