Getting the real tops and bottoms

Beginner Questions
1

Hi beginners you have seen many YouTube videos about how you just draw the top and the bottom for support and resistance, but this is wrong.

To get true top and bottom

Top

Find the recent two green candle pattern ( breaking a high . That’s your top

Bottom
Find the most recent two red candle pattern breaking a low ( that’s your bottom

Should only be done on the 15 minutes time frame , it is a must to do it like this , anyway else is stop loss hunter territory

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2

Interesting approach, tho. But don’t you think sticking to 15M timeframe might be a limit for swing traders? But I can see it is worth testing out for finding S&R

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3

The big boys use 15 min chart at 180 days time frame interval . I posted this as a must do

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4

If one can master the art of tops and bottoms, respect :+1:

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5

While many suggest drawing support and resistance based on simple tops and bottoms, a more accurate approach is to identify the most recent two green candles breaking a high for the top, and two red candles breaking a low for the bottom. This method works best on the 15-minute time frame.

3 Likes
6

Yes that’s right :+1::+1::+1::+1:

7

Thanks for sharing your method! It’s a unique approach to identifying support and resistance based on candle patterns. I agree that time frames and precise methods are important to avoid stop loss hunting. It’s always good to explore different strategies to see what works best.

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8

No worries

9

I’m not sure if I mentioned this

But to add more depth you would still use 15 minute chart at 180 day interval

You could even add stochastic then if you want :+1:

10

Yes yes so 15 min chart at 180 day interval

Stochastic indicator signal line over 80
And stoch sentiment line over 60

Will work on stocks too yep :+1: