It is critical to identify previous day highs and lows, as well as previous week highs and lows, in order to pinpoint the start of a trend. It can be either an uptrend or a downturn.
Bearish trends are formed when prices fall below the previous day's high. Bullish setups are formed when the price falls below the previous day's low.
To be lucrative with these setups, they should be used in conjunction with a high time frame and a strong support-resistance level, in the same direction as the main trend.
Bearish trends are formed when prices fall below the previous day's high. Bullish setups are formed when the price falls below the previous day's low.
To be lucrative with these setups, they should be used in conjunction with a high time frame and a strong support-resistance level, in the same direction as the main trend.