Confluence II: Long Live Lord Confluence
Referring to the previous bit, this 4h chart shows some intra-timeframe confluence with the aforementioned 1h chart.
Using multiple timeframes to validate your edge is essential to having sound trades, and trades that you can learn from. Without having a reliable standard to judge each trade by, how can you contemplate your wins and losses with any use?
As a trader one evolves psychologically and strategically. Things are often being tweaked as the market is always tweaking the fuck out, but having a stone cold setup across multiple timeframes will really help sus out the effectiveness of any given approach over a sufficient amount of trades to avoid strategically 'walking in circles'.
Anything can happen, and while confluence in any form is often 'magnetic', it's important to have eyes wide open to the bigger picture as well. If you're getting tunnel vision you're already in the emotional danger zone.
Using multiple timeframes to validate your edge is essential to having sound trades, and trades that you can learn from. Without having a reliable standard to judge each trade by, how can you contemplate your wins and losses with any use?
As a trader one evolves psychologically and strategically. Things are often being tweaked as the market is always tweaking the fuck out, but having a stone cold setup across multiple timeframes will really help sus out the effectiveness of any given approach over a sufficient amount of trades to avoid strategically 'walking in circles'.
Anything can happen, and while confluence in any form is often 'magnetic', it's important to have eyes wide open to the bigger picture as well. If you're getting tunnel vision you're already in the emotional danger zone.
Komen:
The bullish outcome is a bounce near where it is, on top of the bear Kumo and TK complex.