Trend change and HH/LL

[Billy Gates]

Just trying my hand at trading using just price action. Firstly I am trying to learn how to identify HH and LL etc. I assume an downtrend will change into uptrend after higher highs and higher lows have been made?

Just looking at the action this morning I could see the change in the 15m as shown in the first pic, however I have not seen it in the 30m yet. Does that mean the 30m still has to come back and test a higher low?

 

[TheBramble]

The M15 on Cable has been in a down trend since market open on Sunday night.

Not too much point looking at higher lows while it’s still below that area of consolidation at 6350/60.

The pivotal higher low was at around 08:00 (BST) this morning.

It’s now in an up trend on the M15 and currently at Daily R1. Your next area of potential Resistance is at yesterday’s high at 6460.

You’ve chosen a particularly messy pair to pick out trending action…

As for what the M30 'has' to do, what do you care? Which TF are you trading - M15 or M30? Waiting for agreement across multiple TFs on this pair at the current time is probably not a good idea.

 

[Billy Gates]

Bramble thank you for your reply. Ok i see your point and the R! levels etc, i was just looking at the 30m from an intrday perspective as I do normally look at 30m and 60m timeframes to determine intrday trend etc. The Higher level of 6460 you mention i Have on another smaller position as i expect that to be broken either today or tomorrow as the bigger trend is up in my analysis.


I havent actually looked at any other pairs at the moment.

Thanks for sharing your thoughts.