I would start by maybe using a 30 min chart , even for intraday trading it is advised to use a 30 min and hrly to pick your levels . I look for nice rejections then I may move my time around to get the clearest levels.
But if they are two wide top to bottom , I will look at a faster chart. even within the MA trading system the key to getting the huge gains was longer trades and just using the 15 min for entries. It is one thought that most ignore and find themselves focusing more on entries and less on the real goal nice big gains.
I have posted over 20 charts on how to find the best levels
Looking at your chart the area choose the line is not even drawn correctly the top line which would be your entry level , would be the close of a candle the body and the open of a nice rejection candle.
I marked the top level which has now been busted also the better area for your top line. Bot that area is so wide I would have to try it with a tighter stop or a different entry.
But if they are two wide top to bottom , I will look at a faster chart. even within the MA trading system the key to getting the huge gains was longer trades and just using the 15 min for entries. It is one thought that most ignore and find themselves focusing more on entries and less on the real goal nice big gains.
I have posted over 20 charts on how to find the best levels
Looking at your chart the area choose the line is not even drawn correctly the top line which would be your entry level , would be the close of a candle the body and the open of a nice rejection candle.
I marked the top level which has now been busted also the better area for your top line. Bot that area is so wide I would have to try it with a tighter stop or a different entry.
Good Trading To All ; Ken Lee