Quote from: Woodie on October 12, 2023, 06:52:57 PM

Quote from: letteredhub on August 07, 2023, 11:15:05 AM

I saw this image from a telegram page. I don't know but thought it wise to bring it here to the forum. Maybe we can brainstorm discussion-wise based on individuals opinions. From the image as shown above what's your prediction on the direction of the market next move? Feel free to express your opinion be you a professional or trading expert or not.

This is a 2h timeframe meaning it's not really a long term prediction which is a 1week-2weeks give or take prediction, and the current range it's in is between ~28600-30000 based on how I trade and it's already at the ranges low and should try to take out the ranges high as the high failed to break the low making it the perfect target to create a new higher high...and making this a bullish run atm.

No matter if it is long term or short term prediction, it's not advisable to use 2h time frame to identify the overall market structure. We should always go for weekly or monthly time frame, this way would help us to avoid trading blindly. Sometimes, if we just look at the lower tf right away e.g. 2h tf and then you saw that the trend is downtrend because it's creating lower lows and lower highs, but in the htf e.g. weekly tf it's just a pull back, meaning the chance of winning the trade is not high because you're trading against trade.