STRONG SR are displayed only on the current day
If the high / low week was Monday and the week + month or week + combination was on STRONG SR even on Monday, Tuesday, Wednesday .... until new high or new week.
Check out the aud / jpy LOW and HIGH weeks were on Mondays.
STRONG SR red and green are combinations of w + m
These STRONG SRs are on the chart on both Monday and Tuesday, are there today and will be there before the new high / low or new week.
I'm waiting for the first reflection and the first pullback.
Then strong STRONG SR watches before they are new or if there is a nice breakeout, it is often a nice pullback.
I must say you are not shy to post your potential trades here for all to see. I commend you for that and please keep them coming.
I have realised that there is much more to your method of trading than just the Strong S/R levels. Price don't always react the same at these levels, which is quite understandable as that is just how the market movement is. So, I would assume you have other criteria which you apply to filter the better (higher potential for success) from the lesser setups.
Also, I can't really figure out how you decide on the size of especially your SL's. I think your TP's is determined by other S/R levels.
So, what I am actually saying is, keep them coming and hopefully with time we will be able to learn the finer details about how you use your Strong S/R levels to trade successfully. Why you take some bounces off S/R levels and not some others?
It would also seems like you favour situations where a new High or a new Low is formed and then you wait for a pullback to the newly formed Strong S or R level and then take a bounce trade off that level? Is my assessment valid?
It would also seems like you favour situations where a new High or a new Low is formed and then you wait for a pullback to the newly formed Strong S or R level and then take a bounce trade off that level? Is my assessment valid? Thank you
Ignored
Hello, thank you for the question
It is better to look for trades in the trend direction.
If the market is up and doing new high, I'm waiting for a new green and I take you as a market correction.
If there is a STRONG SR red and the market is up. I'm waiting for breakeout and pullback.
SLs and TPs are looking for my SR, I do not show you there is no confusion.
It is important to look for the RR min potential. 1: 2
SL I give 2-3pips under SR and TP 1pip before SR.
Today's GBP / JPY is a beautiful opportunity.
The market is going up, STRONG SR red, I'm waiting for a breach.
According to SR levels there is a nice space for TP and where to put SL
In this case, TP 42pips, SL 14pips
{quote} Hello, thank you for the question It is better to look for trades in the trend direction. If the market is up and doing new high, I'm waiting for a new green and I take you as a market correction. If there is a STRONG SR red and the market is up. I'm waiting for breakeout and pullback. SLs and TPs are looking for my SR, I do not show you there is no confusion. It is important to look for the RR min potential. 1: 2 SL I give 2-3pips under SR and TP 1pip before SR. Today's GBP / JPY is a beautiful opportunity. The market is going up, STRONG...
Ignored
semda,
Thank you for the detailed explanation. Much appreciated
