Trading is finding & executing trades setups around the area of support & resistance.
The more factors that converge through a single boundary, the greater the probability it will support or resist price change.
The most important levels:
Look to buy at support when the nearest resistance is far above.
Look to sell at resistance when the nearest support is far below.
Identifying support & resistance is one of the method for entry.
To identify Triggering Point:
- Support & resistance analysis
- Pattern recognition
- Evaluation of Risk : Reward
- All chart time frame has the same trend.
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