Today I decided to make a post on Support And Resistance Levels.. Many New Traders are not Aware of How to Draw Them Accurately .Because U can Draw Unlimited SNR levels Based On Your Physcology
So if You are Interested to Learn about SNR ,, This Post is For you.
Support is As the name suggests,The Area or Line where market drops to certain Level and Take a pause Before Deciding either it should Bounce from there or Keep falling
And Resistance is where market bulls up to certain level where the market resists to go above it..
To classify a Certain Level to Be Support or Resistance, You need to check the level about how many times market stayed to that level and bounced back from it,,
For Us If a market Reacted 2 times Support and 1 times Resistance or Vice Versa and bounced back from there,, That level can be classified as SNR level.
Now you may be thinking Ok thats fine Its easy to locate them on Any chart But how do we trade them?
First of all To enter any trade based on SNR level ,, You need Confirmations on DIfferent Time Frames .. Like if you classify your SNR levels on Daily Chart,
You need to confirm you entry on Shorter TIme frames on H4 or H1,
Lets say You Did analysis : Drawing important SNR levels on Your Favourite Pairs ( Obviously High Vol Pairs , Low Spread ) on Weekend And now you are ready to make some profits out of the market
Now To Enter a trade on those levels.
You look for these kind of Confirmations..
DOuble top on H1 or H4
Harmonic Pattern , H&S
flag , triangle, Wedge patterns etc.
Now the final part is Candlestick Conifrmation
The Most Accurate ones are Hammer , Engulfing candles ( on H4 or H1)
With this kind of analysis You can be Among the Winners ,,
I Know this Post is quite Long Now ,, Still there is lot to discuss,, There is no end of Knowledge , Learning.
IF you like our work and find it helpful in your trading , Please SUpport us with a Thumbs up
So if You are Interested to Learn about SNR ,, This Post is For you.
Support is As the name suggests,The Area or Line where market drops to certain Level and Take a pause Before Deciding either it should Bounce from there or Keep falling
And Resistance is where market bulls up to certain level where the market resists to go above it..
To classify a Certain Level to Be Support or Resistance, You need to check the level about how many times market stayed to that level and bounced back from it,,
For Us If a market Reacted 2 times Support and 1 times Resistance or Vice Versa and bounced back from there,, That level can be classified as SNR level.
Now you may be thinking Ok thats fine Its easy to locate them on Any chart But how do we trade them?
First of all To enter any trade based on SNR level ,, You need Confirmations on DIfferent Time Frames .. Like if you classify your SNR levels on Daily Chart,
You need to confirm you entry on Shorter TIme frames on H4 or H1,
Lets say You Did analysis : Drawing important SNR levels on Your Favourite Pairs ( Obviously High Vol Pairs , Low Spread ) on Weekend And now you are ready to make some profits out of the market
Now To Enter a trade on those levels.
You look for these kind of Confirmations..
DOuble top on H1 or H4
Harmonic Pattern , H&S
flag , triangle, Wedge patterns etc.
Now the final part is Candlestick Conifrmation
The Most Accurate ones are Hammer , Engulfing candles ( on H4 or H1)
With this kind of analysis You can be Among the Winners ,,
I Know this Post is quite Long Now ,, Still there is lot to discuss,, There is no end of Knowledge , Learning.
IF you like our work and find it helpful in your trading , Please SUpport us with a Thumbs up
