How to Draw Support and Resistance Like a Pro!
Support and Resistance are one of the most important aspects of technical analysis but often I see traders doing it wrongly.
How to Draw Support and Resistance:
Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? When you’re about to start, how to plot support and resistance lines? It’s filled with nothing but lines and it doesn’t seem to make much meaning of the chart at all.
nah My approach to drawing Support and Resistance uses either
1 line or 2 lines. It is much cleaner and immediately tells you which area of the chart to pay attention to. I use a single line when price respect a level almost to the pip and i use 2 lines when price bounces off an area. I highlight only the key Support and Resistance of a chart meaning the obvious swing highs and lows. The intermediate SR i will not draw any lines so as to maintain my focus on the key areas. Besides, with enough screen time you can easily identify those intermediate Support and Resistance without any lines.
real world… You must keep in mind of the R.S.M. formula. These three things stands for:
Reaction Setup Management Now take notes because this is important… Reaction Here’s the truth: Drawing support and resistance lines aren’t the holy grail.
How to Draw Support and Resistance:
Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? When you’re about to start, how to plot support and resistance lines? It’s filled with nothing but lines and it doesn’t seem to make much meaning of the chart at all.
nah My approach to drawing Support and Resistance uses either
1 line or 2 lines. It is much cleaner and immediately tells you which area of the chart to pay attention to. I use a single line when price respect a level almost to the pip and i use 2 lines when price bounces off an area. I highlight only the key Support and Resistance of a chart meaning the obvious swing highs and lows. The intermediate SR i will not draw any lines so as to maintain my focus on the key areas. Besides, with enough screen time you can easily identify those intermediate Support and Resistance without any lines.
real world… You must keep in mind of the R.S.M. formula. These three things stands for:
Reaction Setup Management Now take notes because this is important… Reaction Here’s the truth: Drawing support and resistance lines aren’t the holy grail.
hii
( Contact Number - +91 76782 40962 )
(Mail - Empirecrowntrade@gmail.com)
(Telegram - @Empirecrowntrade)
(whats app code - wa.link/tjaycw )
( Contact Number - +91 76782 40962 )
(Mail - Empirecrowntrade@gmail.com)
(Telegram - @Empirecrowntrade)
(whats app code - wa.link/tjaycw )
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