Understanding the range the market is trading in is crucial, if you look back to your failed trades, it is because you’re trading the wrong dealing range.
Here is how external & internal ranges form.
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How external ranges form & what makes a dealing range.
Covering the basics of utilising the original consolidation, breakers and order blocks.
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Link below to full YouTube video.
Standard deviations settings on a Fibonacci tool, -4 & -4.5 favoured max expansion.
Using the original consolidation for reversals, using the deviations alone is irrelevant you must know the market narrative & PDA, liquidity pools which support the reversal.
During the period of consolidation you want to see side ways price action where we don’t take swing lows or highs, a trending 20 pip move is where we don’t look to trade the model at all.
You want to see open float above and below old highs and lows being built up for the expansion in London.
A complete & easy check list I use before engaging/ framing trading setups in the market.
Everything starts with the economic calendar for the trading week, study how you can frame out the weekly range from just the news events given.
(Note without daily candle closes this is useless)
Utilise weekly profiles to match with economic calendars news events, in my opinion the easiest days to trade are distribution days find days we will accumulate and manipulate use them as a reference to trading the distribution days.