Just as EASY as the name implies
Support & Resistance. Very much neglected yet so many strategies revolve around it
In this Thread, I'd show you how YOU as an SMC trader can use support & Resistant levels as a COCH edge in your analysis
Like & Rt for othersπ«Ά
Open threadπ
Support & Resistance. Very much neglected yet so many strategies revolve around it
In this Thread, I'd show you how YOU as an SMC trader can use support & Resistant levels as a COCH edge in your analysis
Like & Rt for othersπ«Ά
Open threadπ
Firstly
I want to believe everyone knows what support & resistance is.
A support is a key level or an area on the chart that prevents price from moving further downwards
A resistance is a key level or an area on the chart that prevents price from proceeding further upwards
I want to believe everyone knows what support & resistance is.
A support is a key level or an area on the chart that prevents price from moving further downwards
A resistance is a key level or an area on the chart that prevents price from proceeding further upwards
As easy as their name reads
So they are in reality
I know lots of persons who make banks from trading support & Resistance alone and are extreemly profitable and comfortable
In this Thread I'd show you how I use these levels as an extra confirmation to my trades
So they are in reality
I know lots of persons who make banks from trading support & Resistance alone and are extreemly profitable and comfortable
In this Thread I'd show you how I use these levels as an extra confirmation to my trades
My simple approach is‡οΈ
When price gets to a resistance, I look for possible change of character to the downside for a short
And when price gets to a support level, I look for a possible COCH to the upside for a long
But first you need to mark out these areas on your chartπ
When price gets to a resistance, I look for possible change of character to the downside for a short
And when price gets to a support level, I look for a possible COCH to the upside for a long
But first you need to mark out these areas on your chartπ
Above are some key levels on the EURUSD chart
I begin from the 1W tf down to the H4 tf before my power levels tested overtime falls mostly on the H4 tf
When price gets to the support I look for a possible jump reaction and vice versa on a resistance
Here's an example below‡οΈ
I begin from the 1W tf down to the H4 tf before my power levels tested overtime falls mostly on the H4 tf
When price gets to the support I look for a possible jump reaction and vice versa on a resistance
Here's an example below‡οΈ
The Same Case study on USDJPY
Plss look closely at how I marked out my key SnR levels and how I reacted to a support level just recently on a trade I took
The COCH gave me extra confluence after price bounced off the Support level
Plss look closely at how I marked out my key SnR levels and how I reacted to a support level just recently on a trade I took
The COCH gave me extra confluence after price bounced off the Support level
Another case study on USDCAD which I posted here on my Twitter
Using a dynamic Resistance & Support type
PS: Price hit SL before moving my way. (Tight SL)
Using a dynamic Resistance & Support type
PS: Price hit SL before moving my way. (Tight SL)
Another Case Study on JP225
Same method
Easy Peasy !
Same method
Easy Peasy !
I didn't intend to make this thread much of a lengthy one but an easy to read one
Make sure you save each image and zoom in them to see details
Hope that is done ??
This is my outlook for this week on EURCAD using the same strategy
What do you think ?
I'm no marker maker!π
Make sure you save each image and zoom in them to see details
Hope that is done ??
This is my outlook for this week on EURCAD using the same strategy
What do you think ?
I'm no marker maker!π
If all is to go right
We should see a 16% move on EURCAD !
Let me know what you think ?
We should see a 16% move on EURCAD !
Let me know what you think ?
That'd be all for now
Next week we'd be looking at a more complicated series of threads π«Άπ―
&
Thank you 24k of you β€οΈβ€οΈ
My gratitude is Unending
Follow me for more @Techriztm
And don't forget to like & rt the first image in this thread so others get to see it ππ
Next week we'd be looking at a more complicated series of threads π«Άπ―
&
Thank you 24k of you β€οΈβ€οΈ
My gratitude is Unending
Follow me for more @Techriztm
And don't forget to like & rt the first image in this thread so others get to see it ππ
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