I recently had the opportunity to watch one of Nick B's free webinars. For those who have not heard of him, he is a price action trader with clean charts and only s/r zones that he plots on his charts.
His trading method is looking for price reversals at s/r zones using H4 and higher time frames only. Sorry this is not a promo for Nick but I wanted especially newer traders to have a bit of background about what I wanted to really say in this blog.
The one thing I took away from the webinar was this statement:
"Before you enter a trade ask yourself just one question - Who is in control of the market??"
Yes, I know this is basic Trading 101 stuff. But I did some thinking and checking my log and realized that there have been so many times that I have forgotten about this simple rule - times when emotions and gut feeling or just price being at a significant level have taken control of my actions.
I think that it does not matter if you are a trend or counter trend trader - this question is still relevant for everyone.
The answer will probably better guide your trading decision.