Price action to determine key levels

I have created my own analysis technique for identify key supports (S/R) on whatever charts.
I would like to share you the results in order to help some people in their trading.

The basis of the strategy is simple. It is based on Price action and high and low on 3 TF:

M15 short trend
H4 trend
D1 Big trend

The strategy is to take a trade on M15 with a very tigh SL in the trend of H4 and D1.

I will post 3 graphs asap

Waiting!!

Firstable please note that the goal of this thread is only to be educative and a place of discussion

First chart EURUSD Daily -
Horizontal Key level (yellow rectangle)
Trend line : red line. The trend line help us to identify some figure and the Momentum (I will explain you it later)

We can see on this first graph 2 importants things:
First: actual daily support broke yesterday.
Second: a triangle on daily with a basis at 1.15/1.1520

Consequence: price may go to 1.15/1.1520

I hope it is usefull for you.
The second graph ...later

I propose you now a zoom with a view on H4 .
White rectangle are S/R on H4 but they give us very few information in this case
For reminder yellow rectangle are S/R on D.



We can see:
red Arrow: we could take a very good short trade (3 resistances)
the bullish trade on the support would have been lost (we will see it on M15)
the confirmation that the daily support broke yesterday

FOR FINISHING a chart on M15

Purple rectangle are Support/resistance on M15.

We can see that the trend is bullish on M15 .

Conclusion of the observation:

D1 and H4 we can expect that the price will go to 1.15/1.1520 which is a daily support .
We only should take bearish position but we have to wait that M15 becomes bearish too !


Eur/USD is not the good pair to make money at the moment but it was only for example .

We will see later how to take position on M15 but … later
see you soon

Make an EA of this and backtest this strategy with minimum of 10 years. I have done something similar but with zigzags in zigzags(or 2D zigzags). Price is a b*tch, it only shows how to lose spread on every trade in a long run.

Another example USDCAD


Chart 1 daily

chart 2 gives us more informations
USD CAD H4

for finishing M15
we only have to wait that the trend becomes bearish on this TF for taking a sell position.

I will try tomorrow to show you how to take this position

When M15 will bearish we can expect (NOT SURE but we can expect) a drop

thank you for sharing your experience. I subscribe.

another example EURAUD Daily

sold position on eur usd M15
M15 is bearish now as D and H4

THE RISK IS LIMITED because the LH of M15 is known and not far

I trace now a line between the last 2 high.
If I am right the Momentum should accelerate and the next line between the next 2 high has to be more steep
if not and if the red line is broken I will close my position

position closed with small loss

new sell position on usd cad

SL hit yesterday on USDCAD.
Neww sell position.
M15 is bearish and I am selling on the pullback

Was fallowing this thread. What happened? are you still trading this strategy?

he 4experience,
thanks for sharing,
I find your idea very interesting for PA trading.
Actual I learn to trade €$ only on H1 and M5 with PA

Could you place your charts with time scale
and with a chart type: D1, H4, M15.


I would like to understand your charts better

All the best

vvm

This indie might help people (manually)place the rectangles on ur chart....

Does anybody have an indie that adds s/r levels automatically? That would be nice for this strategy.