DislikedGood afternoon to you all,
Firstly great thread and I thank Karthik for starting it. I would also like to thank the many great posters in here.
I am a part time trader of 12 months and after doing all the newbie things, building an account, blowing my profits to grow it again to blow the profits once more, I am now back to my original investment. I did the usual, blew some money on an automated system (I know, stupid mistake), it worked then it didn;t and so it goes on. I then find this thread and it has been a god send to me in helping to clear...Ignored
thanks wayne for ur wishes....now to the answers:
1. i use only MM levels...sometimes i draw fibs as well....i am currently working on something interesting using fibs....hope to conclude that study in a week or so...
2. trading 1H SR using 5M charts would be best....cos 5M shows u what exact PA is happening around these SR levels which will help u to gauge price movements and also gauge the future movements as well...
3. there is no precise price that acts as SR...so it is usually a small range around these SR levels....
hope i answered all ur questions...