Using the 1, 30, 15 or 5 & 30, 15, 5 or 3 Effectively PT II
In this follow-up video, after determining the directional bias/trend using the 1 hour chart and identifying 3 signs of a potential short-term reversal, I "drop down" to the mid-time-frame chart, and as usual, its in a more advanced stage than the higher timeframe.
Here' I'm checking to ensure that there are MORE indications of a reversal and that hopefully, they're more pronounced or convincing.
Based on my findings on this time frame (if they confirm a strong likelihood of a short term-reversal), I can drop down to the lowest time frame to look for the:
Retrace into the moving averages followed by a clear and convincing candlestick reversal pattern.
Here' I'm checking to ensure that there are MORE indications of a reversal and that hopefully, they're more pronounced or convincing.
Based on my findings on this time frame (if they confirm a strong likelihood of a short term-reversal), I can drop down to the lowest time frame to look for the:
Retrace into the moving averages followed by a clear and convincing candlestick reversal pattern.
