Understanding where price is and what is taking place is key to trading with success. The bigger picture view will lay the foundation of your overall analysis. Plan your thoughts and apply all your currently knowledge in your analysis to make the best trading decisions. Don't be afraid of what you don't know because if you take the time to study what you did right and what you did wrong you will gain a step further in your journey. Again this is what its about..Right? Each and every trading session you should be taking the time to learn something new. Oh yeah, you will end some days scratching your head, (a nice way to put it), this is the process. THERE IS NO OTHER WAY!!!
Below is a the daily chart of the ES. Here is an example of looking at the bigger picture to understand what is taking place. Take time to make a visual understanding then make notes, draw lines, whatever you need to do. Don't make it too complicated though. Drawing 50 lines and adding 20 indicators will not predict the future of price action any clearer than learning to read price action and understanding who is in control and when that changes.
