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A bearish bias on daily or weekly charts isn't enough to trade on. You need to confirm it with price action on lower timeframes before you enter a position. Opinion without market evidence is just a guess.
A bearish bias on daily or weekly charts isn't enough to trade on. You need to confirm it with price action on lower timeframes before you enter a position. Opinion without market evidence is just a guess.
So right now, because we're looking at a bearish daily bias, we know that we're overall going to be positioned towards the short side for today. So now we're going to go into the lower timeframes, and this is the keyword right here. I'm going to start looking for evidence that the market agrees with whatever my idea is. So right now, based on my daily bias and my weekly bias, I'm thinking short. So now I need to come down to the lower timeframe to see, does the market agree? Because at the end of the day, having a trade idea or having an opinion about what the market is going to do does not automatically mean that there is going to be a trade idea. Having that trade idea is just step 1, you need step 2, which is, hey, the market needs to be showing signs that it is also thinking the same way as you.
