Price Foot Print
This is very interesting topic price foot print as I told you before price has a memory and its behavior.It repeat thing very often when price has difficulty
to cross any zone it always remember that and when price come to that level again
it reacts to that level this phenomena is called price foot print (Support and Resistance Level).
That’s why pro traders always look left to see how price react to that level in past.It is very important to understand the concept of price foot print because this is the point where price likely to turn or start an new move in the direction with
huge movement.
In the above chart you can see importance of price foot print.See how market
react to this level. I don’t think you need any other indicator which will tell you where price can turn or start a new move if you know how to use price foot print you always a head in the game .
Now in the chart above you can see price touch point (A) and bounce from that level after some time price again reaches that level again it bounce (B) at that level now we know this is a strong level so we mark this level because price leave a strong foot print on that level now we are waiting for that level to see what happen-
1. Either price bounces from that level again and change in the direction(Price reversal).
2. Or we can see strong momentum and price break that level with
huge candle and show the selling pressure (Price continuation by strong breakdown).
Now as you can see in the chart we see a strong momentum and break of this level which show you importance of price foot print.So every time you know what is likely to happen in future and we have better understanding of price movment.
As a trader it should be very important for us to clear over mind, what I
mean by that is that you should either look to sell a pair on that particular
time in that chart or you should be looking to buy.
Don’t look for buy or sell in the same chart in same time frame because it
will make your treading stress full and affect your trading decision.
As I told you we should be look for trade in bias market which clear its mind
that it want to go up or down so why we violate that rule in over trading.
That’s why we are looking either only buy or only sell as for the trade setup
not both hope I make my point here.
Once you start doing it you will see that you trading will become stress free
and most important of all become profitable.