Trading Consultants Inc. discusses H4 Close

Trading Consultants Inc  often uses “look back” to assist in closing decisions. Here the arrow point back to a massive H4 up candle and there fore we know buyers were at this level in the recent past. Therefore the prudent close is to expect the memories to strike taking it back to the supply 1 and supply 2 . We are examining adding limiting pending order at those two supply levels. We placed an order based on Monthly Trend on Friday and we got the reaction we expected today with a massive down candle

 

Closing with an H4 chart using look back.
Trading Consultants Inc. closing with an H4 chart using look back.

 

 

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