@The_Baller this is a really interesting approach that you’re taking and I’d like to try it. However, just got a couple of questions about your approach.
After you’ve determined the monthly trend and your weekly support/resistance lines, how do you decide whether to go long or short?
You’ve said that you don’t trust candlestick patterns so I’m ruling that out. Yet you say that you follow “price action”. So I’m left with the assumption that you trade between weekly support and resistance levels, but only in the direction of the monthly trend?
Would that be a fair assumption? Would you trade between support and resistance but against the direction of the monthly trend? Just trying to get clarity here.
Also, at what level to enter? e.g. let’s say that a weekly candle (last week) has hit a resistance level, so you’re thinking of shorting it. Would you “enter at market close” of the last weekly candle, or maybe go for a retracement entry on that candle?