Core concept

Market Structure

The sequence of swing highs and lows that defines whether a market is trending or ranging — the skeleton of price.

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What it is

Bullish structure is higher highs and higher lows; bearish structure is lower highs and lower lows; a range is roughly equal highs and lows. Reading structure means tracking those swing points across your timeframe.

What it signals

Structure tells you the trend and where it is likely to break. A break of structure confirms continuation, and a change of character warns of a possible reversal — everything from order blocks to entries is read against it.

How to spot it

Mark each meaningful swing high and low and read them in sequence. The pattern of those points — rising, falling, or flat — is the structure.

One caveat

Structure is timeframe-dependent and can conflict between timeframes. Always anchor to the higher timeframe's structure before acting on a lower-timeframe read.

Related terms

TrendBreak of Structure (BOS)Change of Character (CHoCH)Support & Resistance

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