Krelian99 wrote: Tue Jul 10, 2018 6:56 pm

Do you know what scalping is? Do you know how to follow a trend? Do you ever have taken a look on a Y1 chart? Can you say me what you see there?

what you can not see on lower time frame , is easy to see on higher timeframes like weekly, monthly, and yearly frames , like where are sr levels and where retracements of prices will end. prices on lower timeframes haults when it hits sr levels on higher time frames.



for example, USD INDEX has been strengthening after erasing all its losses for year 2018 and has pierced well in 2017 yearly candle, showing more strength,
it is just haulting and consolidating just because it has hit resistance near crucial 50% fibbo retracement level of its entire fall of years 2002 to 2008.

usd is bouncing after taking support at 200 ema and from 38.2% retracement.

usd is just pausing and consolidating at current levels, it is just catching counter trend EURO long traders , and USD will again gain strength and all EUR long traders will be squeezed to loose money.

in any case US economy is strengthening and fed is in tightening mode to support USD.

is your lower time frame still very effective ? does that show everything and you do not need Y1 ?