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Tutorial Step - The Big Picture!

Summary: The 4H chart showed a clear shift in the trend after the breakdown, but... what about the long-term? Let's check the daily chart!
Find the April 10th candle and take a minute to think of what it meant—in the big picture—what we just analyzed in the lower time frames. This is what I see:
  • The walk: The ranging period we saw from the 7th until the 10th of April was in fact a little walk on the daily upper band. By the BB rules, this means that price is relatively high in this time frame.
  • Pullback: The breakdown in the lower time frames marked the pullback from the daily upper band.
  • Continuation: The price action in the larger time frame ended up being a normal pullback and continuation, barely crossing the moving average.
Tutorial Step - Let's Zoom Out!
Tutorial Step - What Do We Make of This?