CAD/JPY, 4H Timeframe (as demonstrated)
This post outlines the first step in a methodology focused on identifying key market structure levels. The goal is to objectively define a trading range, using CAD/JPY as the example.
The Process: Of a bullish Structure
Identify the range Low: Locate the last retracement from the previous high, the low is deepest price level retraced to.
Find the Inducement: Mark the low of the most recent pullback (retracement) before the price made a new high.
Wait for Confirmation: The high is only confirmed once price returns to hit this inducement level. This validates the high as an official range boundary.
A break of the confirmed high is a break of structure (BOS). A break of the confirmed low suggests a change of character (CHoCH), shifting sentiment.
This is the foundational step for identifying future points of interest. The next step involves plotting POIs based on this confirmed range.
This methodology is based on one that I learned from someone else on Youtube, but I have changed many details to suit my style. As a thank you note, I have referred to this person on other paltforms, but unfortunately, I don't think I can do this here as I might be violating this platform's rules.
I will be posting the next steps that would lead to deciding on a trading position on step by step basis.
I am already making videos but I might be using this platforms video option for later posts.
This post outlines the first step in a methodology focused on identifying key market structure levels. The goal is to objectively define a trading range, using CAD/JPY as the example.
The Process: Of a bullish Structure
Identify the range Low: Locate the last retracement from the previous high, the low is deepest price level retraced to.
Find the Inducement: Mark the low of the most recent pullback (retracement) before the price made a new high.
Wait for Confirmation: The high is only confirmed once price returns to hit this inducement level. This validates the high as an official range boundary.
A break of the confirmed high is a break of structure (BOS). A break of the confirmed low suggests a change of character (CHoCH), shifting sentiment.
This is the foundational step for identifying future points of interest. The next step involves plotting POIs based on this confirmed range.
This methodology is based on one that I learned from someone else on Youtube, but I have changed many details to suit my style. As a thank you note, I have referred to this person on other paltforms, but unfortunately, I don't think I can do this here as I might be violating this platform's rules.
I will be posting the next steps that would lead to deciding on a trading position on step by step basis.
I am already making videos but I might be using this platforms video option for later posts.
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