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How to read forex market structure
Market structure. Let's gooo 😂
- Time Frames: 2H, 30min
- Chart: USD/CHF
What we are seeing here is the last bullish structure. We can find the last three components created, the last HH, HL and the latest high structure areas. We are using the last HH and HL structure zones. We can also see the correlation on the left with the HL structure zone, giving tons of confluence
With a representation of the total overall structure shift situation and expectations, we are seeing the Breakout LL being formed and currently we are identifying the pullback.
In the pullback, we are able to see a strong wick rejection from the downside, strong rejection with a bullish pressure, eventually violating the structure.
The lesson and the point here is that, no matter how strong a zone could look like, how promising or "perfect" a situation can look like, confirmations matter and without confirmations we are not taking sht from the chart.
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