I should further clarify that like most people on here I have my own particular way of trading s/r but it incorporates most of BRV's principles.
I identify s/r levels in weekly, daily, 4hr and 1hr TFs. These are colour coded so that I can tell which TF the s/r comes from as higher TFs are more significant. My core TF is 1hr but I go down to 5min to monitor price action.
Then it is just a case of confluence/convergence, I look for fib levels, round numbers, trend lines, wicks, buckets, etc. that further validate the level and help give me a measure of probability. After all we need a way to distinguish a 60% from a 90% trade.
Finally I keep an eye on the trend in each TF and an ear open for the fundamentals that could help or hinder my trades.
Use BRV's PDF to create a daily trading plan that works for you.
Good luck!
I identify s/r levels in weekly, daily, 4hr and 1hr TFs. These are colour coded so that I can tell which TF the s/r comes from as higher TFs are more significant. My core TF is 1hr but I go down to 5min to monitor price action.
Then it is just a case of confluence/convergence, I look for fib levels, round numbers, trend lines, wicks, buckets, etc. that further validate the level and help give me a measure of probability. After all we need a way to distinguish a 60% from a 90% trade.
Finally I keep an eye on the trend in each TF and an ear open for the fundamentals that could help or hinder my trades.
Use BRV's PDF to create a daily trading plan that works for you.
Good luck!