Resolved Question
Where do I look for Market Direction!?
As I understand, you should always look at higher time frames to identify market direction. What if the daily, weekly, or even monthly charts are all in a box range, as they were on my charts this morning?
over 2 years ago
Best Answer - Chosen by Asker
If they are in a box range, then you are trading a range. Of course, different people see different things on charts so at the end of the day, you have to trust your own judgment.
You can also try looking at technical analysis by various traders. Big Pippin provides a daily analysis of major currency pairs. You can check it out!
over 2 years ago
Source(s):
Answers (1)
That just means the market is ranging at the moment. You know what they say, the market is range-bound almost 80% of the time. But if you want to catch some intra-day trends or longer-term ones, you can always apply an indicator which gauges strength of trends (such as ADX) to see if there's an ongoing one or a trend that's about to form. The market can be ranging at the moment but there can be a trend that's just about to form and an indicator can help you predict that.
over 2 years ago
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