THE MONTHLY CANDLE TELLS A BIGGER STORY

Before focusing on lower timeframes, take a look at the monthly candle.

Where did the previous month close? Did price expand strongly in one direction? Did it reject a significant high or low? Is the current month trading above or below the previous month's range?

The monthly timeframe gives you a broader perspective on where price is coming from and which areas may matter.

It doesn't predict the future, but it helps you avoid analysing the market without cont

ext.