Why is it advised to look left and right while crossing the road?
If you only looked right to check whether any immediate incoming vehicle was approaching you, you might get stuck up in the middle or hit by the car from the other direction, which you didn’t check. Or, after checking the left side, you decided to move, and by that time, a vehicle had arrived from your right side, which was speeding past you, and you moved straight to hit it on your own.
I believe you are familiar with these real-life scenarios and situations. Why aren’t you doing the same thing when you do a top-down analysis or multiple timeframe analysis for your favourite stock, Forex cross pair or cryptocurrency? You are not doing it because you’ve been educated to analyze charts by using smaller timeframes, intraday price action and even scalping. You do not look left before placing a trade; you will never see the car overtaking you from the left (or right, depending on your country) if you ignore the bigger timeframes and the smart money.
Supply and demand, together with price action analysis, will force you to look left before buying or selling stocks, Forex or cryptos. Learn why you must look left in the video analysis below.
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