I put my own S/R line down according to what I saw on the chart at 153.61. Set a buy limit at +8 pips of that line. Set a TP of +100 with no SL, as I was fairly confident +100 would be hit.
Got up this morning, U.S. central time, and it had hit my +100 TP with no problem. It looks like it didn’t have any wild retraces, just went straight to it on the 4H.
Anybody else using the NickB method catch this one?
What do you think about the 153.61 line?
Scalp line to be used once?
Or not any kind of line at all?
On my charts scrolling back quite a bit, I placed the line as per some three or more wicks stopping at that line.
Worked for me, but I don’t know if it’s really S&R per nicks method, as it was made way far back. Don’t know if it counts for recent price range since it was far back.
Basically the top of a bowl or cup. I’d post what my charts look like, but I don’t know how to get that out of mt4 as a jpg and post it.