Just wanted to bump this thread.
Look at this chart. Remember, it's Tokyo session right now and it's dangerous to trade without movement. I've pointed out some area. These are rare but should be profitable.
A. You can see it's hitting a bottom. It's more like a channel because of the session. Well, we know a support is there. Also we can see the value chart were os in that area.
B. VC is overbought, as well as lots of oscillators should be pointing OB right now. It hit or broke some resistance. Some of you would trade a reversal on next candle, but wait, that's not what this style is about. Now you wait for market to quickly pull back. If we see on left, there is not much room for it to go.
C. Market goes up even though we had OB. It goes up and up upto some resistance. Well, VC is no longer the same OB it were in point B. It's cooled down. Right?
D. Market hits a support, or the EMA, or shows pinbar etc etc. So many things going on. Meanwhile, the VC is at OS. But the VC were above 0 not too long ago. There, we can have a trade, maybe 15 minutes.
IMO, It's stupid reading charts like this. Historical charts will only take you so far. But I think you understand the point. It's one of the ways to interact with the charts. Watch the live markets to feel the adrenaline rush and making obvious mistakes.