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How many bars to the left you guys look at in your trading timeframe?
I trade cfds so i trade the us500(spx), and the bars to the left sometimes can be overwhelming. I keep around 150-200 bars on my vision, and use HTF as well to keep the PA more concentrated, and understand better what's the overall context.
Thank you in advance.
Don't look too far to the left, this is a mistake I used to make! Now I don't look much further than 80 to 100 bars (and sometimes just 40 bars or so), because I'm only interested in what price is doing right now and where we are in the market cycle. So for example, if we just broke out of a TR, I'm only interested in where price is right now and the and low of the TR. We might be breaking out of a channel on a bigger scale / HTF, and this is important to keep in mind, so that you can anticipate a possible F. TR BO, but it's not necessary to have it on the chart or to look at it whilst trading, because too many bars or looking at other/too many timeframes means that you're eyes and brain have much more to analyze and think about, which explains your feeling of being overwhelemd. Or another example of a protracted bull trend (> 100+ bars or so). I would say it's too much to have the whole bull trend on the screen, just mark the bottom of the bull trend and the start of the channel (because these are important support levels that could be tested and could be the start of a possible TR if we do reverse the bull trend), but only have the bars until the last major swing high and major HL on the screen (maybe the last swing high as well where we broke out of), because the last major HL acts as a possible TR, so why would you have more on the screen, knowing that if we break strongly below it we're probably in a bear trend. The bear trend might fail and become a TR, especially if we're in a bigger range when you zoom out or look at HTF, but to know this is enough combined with marking important support so that you can anticipate a possible failure.
For a great portion of the time being aware of inflection points from the last 48 hours is very useful. So, today's PA as well as yesterdays OHLC.
However, bias can exist at the end of the week, and monthly aspects so towards the end of the week and month, the awareness of where prices are (near for a magnet or test), can provide additional insight.
Good trades to you!
@Wahab Karim
It can feel a bit overwhelming during the open cause you got the overnight range to the left which it can definitely cause you some distraction. I've gotten decently used to it. Also trading spx, i think you certainly have to use htf and have multiple charts open, simply because the bars are a lot more. And yesterday's PA is far to the left.
I've definitely made mistakes, regarding directional probability and mismanaged some trades. I couldn't incorporate HTF context to my trading timeframe(STF), and getting overwhelmed by information and making bad decisions overall.
I keep more bars to the left during the open and as the day progresses, i narrow it down and have less as i want to focus more, on the most recent PA. If i want overall context, magnets, and major reference points that i should know about i use the 15m and the 1h and mark them. I stuck with this approach and i can definitely see that i make better decisions now.
If you think that i should change something LMK.
Thanks for taking the time responding, both of you.
