I also do the same, fib levels are blessing to confirm the support and resistance, Plus 50 and 200 EMAs are the crucial to find the trending support and resistance.
Yeah fib levels are really helpful.
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Institutional price levels/order blocks?
That is correct.
What other indicators you guys are using for confirmation of reversals?
Support and resistance level helps in proper range detection and it is important to the binary option traders. Those who prefer technical analysis generates signals this way and set their TP and SL based on the support and resistance.
there’s NO WAY you will know what happen to the price.but "the price"will be watching you ,especially your SL.its a scam world ,think twice before you grill deep.
It’s best to use HTF levels and if you see round numbers correlation on your levels will give added confirmation. Lots of S/R material in the education section
Because support and resistance are dynamic, so must be a trader’s trading decisions based on them. The latest low and last high are significant in an uptrend. If the price makes a lower low, it suggests a possible trend shift, while making a new high helps reinforce the uptrend.
I would like to suggest using Fibonacci retracement to help you out. They do indicate reversal points with high accuracy. It can help to identify price levels where a price correction might end. It involves using the golden ratio that can be used in the forex market as well. So you can do some research on that.
As per my own experience, support and resistance is much more effective when prices are often bigger and arrive from a long difference of pips. Such times, areas around support and resistance levels can have a huge influence on your trade.
I believe you would often wait until it’s broken and retested before trading
Did you read the babypips school? If not, then read it properly; particularly the support and resistant part!
With more experience, you do get a better "guesser"regarding S and R breakouts