Market Structure Confirmation

[Westbruno]

Hi everyone,

I would like to know if this is a market structure break CHOCH, yes or no and why? or why not.

Which one are correct? even though the market is already showing somehow.

thanks.

Thanks again

 

[tomorton]

There isn't an absolute right or wrong with TA like this on a chart. The chart is evidence of what the the market has done, not of what it will do next. What you call the price action - whether you call it a ChoCh or something else - is your subjective analysis. It's not universal, but it can be very useful for you to guide your trade decision-making.

If you're following someone else's rules that feature ChoCh in their strategy, then that strategy should define what price action looks like in order to show a ChoCh. If the strategy is ambiguous or too complex to use safely, change strategies.

 

[Westbruno]

Thank you for your reply - I hear you - but lets find out if this one is good or not - what is your strategy?

thanks

 

[tomorton]

Most of my trades are long-term trend-following - basically, the old technique of buy on the dips. I run some shorter-term trades based on Smash Day candlestick set-ups.

 

[Westbruno]

I guess, on weekdays the pattern looks better, compare to the weekends ones - little messy though.

 

[Westbruno]

This one did not plat out - the Choch wasnt really convincing anyway - right at New York Open also...