thepark wrote:aliassmith wrote:thepark wrote:
nice trade! after the swing low, do you interpret the increased green momo up as long bias, and then since the down momo's body is bigger than the green it turns bearish again?
I think I follow your question. I was looking at structure. We have LOWER HIGHS and LOWER LOWS. Once the red "trigger" candle shows up it looks like a continuation of the structure.
If you had the 20 sma on there it would also have been a pullback under the 20.
It also looks like a 50% retrace.
Over all the price action and structure were very clean. I've been using the m15 charts more since volatility has decreased.
appreciate the explanation Alias. agree with you about the decreased volatility, lately its been one big move a week. do you think its a structural change where vol will decrease indefinitely?
If you pull up a monthly chart of your favorite pair then put a ATR(12) on it you can see how volatility changes over the years. Its hard to say where it will go. You have to adapt to make it work. Some years you can scalp a M5 and others you need to trade the H1. Right now I like the M15 for setups.