Weekly commentary 19 Flashcards
What’s more important, the DOL(Draw on liquidity) or PD arrays?
DOL is always more important than PD arrays. Always find the DOL first, and then find PD arrays that we can use to frame ideas for price to trade into the DOL.
How do you frame a trade idea?
When price trades into a HTF PD array, or runs a key level(PWH or PWL), you start to frame a trade idea at these prices arrays.
What should we do when price trades into a HTF PD array, but does not react as expected?
When price does not react as expected off a HTF PD array, we should do nothing and wait for price to trade into the next PD array.
What’s significant about the previous week and previous day high/low?
The previous week high/low and the previous day high/low are key reversal points. They need to be framed with the daily bias though.
How can we use the previous week and previous day high/low to frame setups?
When you are bearish, and the daily/weekly candle closes close to the high, we can anticipate the next candle to trade above the high, and frame short setups around that area.
