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$XAO 2H chart. I don't trade this so why bother to chart it? For me it's a sentiment indicator or (tide) gauge to help decide when I should or should not take trade setups. I want the downtrend broken (1) and then (2) my sentiment lies where price settles in the S-R zones
If the reactions make new lows or the rallies make new highs I adjust the S-R zones. If price breaks out of the channel and then makes a new low I redraw the channel. If price makes a new high followed by higher low I draw an up channel etc etc
I do something similar with $GOLD and $SPX S&P500 because generally leading sentiment indicators for (1) #asx gold stocks and (2) $XAO
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