It's just a Simple Top Down Analysis you explained though
Type that to Google and you will understand better.
CRYPTO MECHANIC
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One of the common mistake that most of the traders make is they pay so much attention to what's going on lower timeframe like 1hr or some even use 15 minutes chart and they flip-flop their bias on every Red or Green candle. One Red candle and bears start screaming for a dump and one green candle bulls start screaming for a pump.
This is the kind of price action where people lose most of their hard earned money. They trade when it's not the right time to trade.
What you should be doing instead ?
The solution is simple, Pay attention to only what high timeframe is doing and used that biased for your lower timeframe setups. Have a look at the attached pictures.
The first picture is chart boys trying to be look cool by calling a move up , down , up and down multiple times in a day/week.
And the second picture is what HTF is actually doing. Literally nothing right?
Instead of wasting time on these 1hr and 15 minute charts and change your BIAS multiple times in day. pay attention to the HTF only if the trend is bullish stick to it unless it's shift and if the trend is bearish, Be with it unless it shifts.
Reduce the noise..!
This is the kind of price action where people lose most of their hard earned money. They trade when it's not the right time to trade.
What you should be doing instead ?
The solution is simple, Pay attention to only what high timeframe is doing and used that biased for your lower timeframe setups. Have a look at the attached pictures.
The first picture is chart boys trying to be look cool by calling a move up , down , up and down multiple times in a day/week.
And the second picture is what HTF is actually doing. Literally nothing right?
Instead of wasting time on these 1hr and 15 minute charts and change your BIAS multiple times in day. pay attention to the HTF only if the trend is bullish stick to it unless it's shift and if the trend is bearish, Be with it unless it shifts.
Reduce the noise..!
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