anyway now we are trading lower inside the 1h MZ and at a 4h ZL ... so will look for a long
es/pip wrote:es/pip wrote:spa wrote:how do you guys and gals(altho' lisa hasn't been around lately) go about this chart... 4h momo to the upside,1 h touched a previous ZL and has moved above it forming a new one to the upside that got wicked, 15min shows a possible entry short tho'..
situation like this present themselves more often than not
this is kind of like the other situation that we were discussing the other day
#1 h4 is long
2 when you come into that h1 zl---- what got you there----another momo long candle. So, coming out of the above zl is going to find support based on the h1 bar that got you there----
i would not trade short there
now that the h1 bar marked---b--- found support in the momo created by ------a------- and could not continue to go up, i would be much more comfortable trading short out of that area
zl in red
finds support ( based on a)--zl's them-------------b
cant go up so now i would look short
do you see it?
this is just how i interpret what is going on based on that PA