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Good morning to all traders.
I have a question about context. Dr. Brooks often says that context is very important, and I understand the idea.
My question is: how far to the left should we look?
How far back are significant highs and lows still relevant? How far into the past does context actually influence the current price action and what is happening on the chart right now?
I would be very grateful for any tips from your experience.
See you on the charts,
Krzysztof.
I'm no expert but from what I understood so far I tend to tell people that the most important bars are the last 50-100 bars on your execution timeframe.
But I can't say that the rest isn't important because I think it is, just not in the same way.
So, 50–100 bars on M5, and if I’m also looking at M15, then 50–100 bars on M15, and the same on H1?
Is it worth keeping an eye on higher timeframes, or is it better to focus only on what’s happening on M5 and the influence of those 100 bars on the current price action?
I think it's worth keeping an eye on, but my 5 minute chart always has the final say.
And yes, if executing on 15-min, then 50-100 bars on 15-mins...
Check these answers too. I've asked this question a couple months ago. When creating a thread, it shows you similar topics relating to your question. Just a heads up
