hello traders I learned how to spot S&R and trend lines in the Daily time frame but I dont know how to spot a correct entry points in lowe time frame like H4 since can you help me on that I found myself to be a day trader
thank you
have a profitable trading
When you find out, be sure to tell me as well.
1 Like
It’s really hard to speculate that since we all don’t have the same methods to find S/R levels. What I might consider “correct” entry points might differ from the next person due to our strategies in play. If your able to spot S/R levels in daily time frames then you should also be able to recognize the “sticky area” or zone where a price is going back & forth. If you look at how you find your S/R levels there might be a pattern/lead-up on how the prices start rising up or down.
1 Like
you mean to start looking at another S&R in lower frames?
I’ll say this - might be a potential set-up for you. Incorporate the S/R levels and use 3 different time ranges to find them. See if they have any potential zones where they possibly/meet cross. If they do start narrowing down that region and see how price action/candles were operating around that zone. Did it characteristically cross back & forth in either the S level or R? You’ll starting noticing price points where they constantly keep revisiting a certain area. These are potential areas I’d say to look at for potential set-ups/crossover. Again this is just one style & my own sentiment. Someones approach might be totally different - I just want you to be aware of that.
1 Like
as I understand I think nzd usd will go up I took my resistance at 0.68400 and I see it broken and retested it and go up am I understand right ?
Now go back about 5-10 points where it broke that level and tell me how many times it went up or down, in that scenario. From there you’ll have a percentage of probability of it either crossing upwards/downwards. Does that make sense to you?
1 Like
Yes check how many times it breaks your line, but more importantly after it broke your line did it ever revisit it? That’s how you start gauging the voracity of a signal and try to figure out what direction it might go. For example during those last 14 candles - I consider that a ranging mode, it’s hitting both red lines but not truly breaking through. Eventually though it’ll have to break up or down.
Your stoch is showing it might be going towards overbought territory - (it could be true or just a honest fakeout)
1 Like
As already mentioned it looks like its in a range, although, don’t quote me on this, looks like a bull flag (ish) pattern which usually means price will break higher.
Looks like a good call on the daily and weekly. Will keep an eye on this.
1 Like
thank you very much for your patience answering me and I apologize for late reply
Thank you very much for your patience explaining me that I apologize for late reply