MightyOne wrote:Trade off of price extremes in the direction of the bodies, it is as simple as that.
H4 closes higher than something, bias is long.
H4 closes red, but not lower, bias is long.
Over time I found that 'trends' are nothing more than range expansions, large charts are nothing more than their extremes, &
that price can only move down from the high extreme or up from the low extreme...a hundred or hundreds of pips.
Bodies show the way by closing over 'something'
Although orders are placed according to horizontal lines, money is made with ideas of statistical significance...like limiting your losses
Personally, I just take two long term points and watch M5, M30/H1, D1.
I consider the weekly median range as well as daily potential.
I trade within space according to the direction of profit.