What is your strategy for setting S/R levels?
I currently go up to the monthly , switch to line chart, and draw lines on major reversals on consolidations. Then I go down to weekly, and daily.
For recent S/R levels, I just look left (I use this for TPs), but I always find the good formations (pinbars, beob,buob, etc) just on the S/R, preventing me taking the trade, just to see that it goes in the direction the PA indicated.
Is this approach correct?
I always see zamfir's, habeeb's, guitarbloke's charts so clean that I don't know if my approach is the correct on this critical thing.
Thanks in advance
I currently go up to the monthly , switch to line chart, and draw lines on major reversals on consolidations. Then I go down to weekly, and daily.
For recent S/R levels, I just look left (I use this for TPs), but I always find the good formations (pinbars, beob,buob, etc) just on the S/R, preventing me taking the trade, just to see that it goes in the direction the PA indicated.
Is this approach correct?
I always see zamfir's, habeeb's, guitarbloke's charts so clean that I don't know if my approach is the correct on this critical thing.
Thanks in advance
Had to be me. Someone else might have gotten it wrong.