A simple technique is to set a horizontal line on the chart and track the directions of price movements for the current bar from it. Let’s show it by the example of the LUKOIL campaign.
By building a horizontal line, you sort of divide the graph space into two parts: above and below the line, a kind of level created by you. If the price is above the line, you are in the Long, if lower, you are in the short (see Fig. 246-248).
By the way, in Fig.246 we see the price tightening to the level and the probability of a breakdown of the level was extremely high, which happened in the end. On the contrary, in Fig.248, the price has reached the level from which the price drop was previously provoked – and the price immediately dives down.
Fig. 246. LUKOIL share, hourly chart, fragment 1.
Fig.247. LUKOIL share, hourly chart, fragment 2.
Fig.248. LUKOIL share, hourly chart, fragment 3.