If you are referring to your post #5614: the level you marked is approximately similar to the marked level on my H4 chart (your level is abit higher). If I was looking for PA on H4, that’s where I’d look.
That doesn’t mean either of us is right and the other is wrong. The picture just does not add up to me (I don’t see decisiveness/direction), and I wanted to explain why I’ll be watching from sidelines…
Oh , i’m newbie and i don’t know what best pairs to trade ? (Example : EU,GU,UCHF,AU or …v)
I can’t monitor over too much pair in the same time. So i want ask you the best pairs to monitor .
The more liquid a pair is, the better!
So if you don’t want to watch too many, start with the MAJORS (e.g GBPUSD)
Then as you get more comfy with time, you can add the JPY crosses (e.g EURJPY), then the other crosses (e.g EURAUD)
NB: whatever pairs you decide to watch, do this as first thing:
a) go to daily chart
b) mark two key horizontal levels: one above current price, and the other below current price.
Those are the places we wait for price to reach and produce PA. Once you get comfortable trading on the Daily, then you can check out the H4 (looking for PA at those same Daily levels).
Thank you that is very helpful. Is this basicly correct? If the bars close at the same level but the highs (or lows) are at different locations then the resistance (or support) is at the closing level, however if the closing levels are at different levels but the highs all stop in the same area then the resistance is at that level.
IMHO it was valid. Candle closed 2/3 of total lenght so the upper wick wouldnt be a problem. Support was tested a few times. Not much traffic in the way.
You got lucky on that one in my opinion. Price was in a middle of nowhere between resistance and support and you went against the trend too. Its not about pin bars, or beeb, or bueb only, but also where they happened support or resistance.