Support Resistance Trading and Timeframes to use

Scroll down for more on S&R and proper way of doing it!


Buy Investment Castle Support and Resistance MT4 customer indicator in the store selling algo trading systems

Buy Investment Castle Support and Resistance customer indicator in the store selling algo trading systems

I have just begun trading like this and I will post my results in a week or 2 :slight_smile:
Forgett everything else about moving averages and all the Technical Analysis and all that you have learned so far… IT DOES not work… but this cant bee a surprise for you…

Support and resistance is actually the only thing that works… I have stumbled over a guy Nick Shawn… so all the credits to Nick.

On 1H chart (you can use 4h or Daily) I have tested yesterday on IC Support & Resistance 4H and Daily S&R…

When its approaching a level and you see a wick (bounce) in the zone… must be in the zone… then you enter… entry must be in the zone to… Exit on structure level above or below depending on if its a bye or sell position… This is as simple as it can be… Erase every other indicator there is… Stop loss must bee used of course… if price goes beyond the wick close in loss… I have tried everything… and there is so many pairs and instruments to choose from… to find one entry or 2 ad day is not hard. On 1H timeframe you only look at charts once per hour. Compund your account with % risk per trade and the account will grow … Try on demo and master it first.

WATCH out for Breaks… it will of course do that sometimes it simply break through… Se pic below…

Of course you could skip the waiting and only trade bounces… just move on and go through other pairs… Very important: Wait for candle to close before you enter…

I guess you get better winrate if you trade support bounces on upptrend and resistance bounces on downtrend… That is how Nick Shawn do and in my opinion its logical to do.

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Thanks @Drasko for sharing this strategy. Please post a link to his youtube video here.

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In this strategy your IC S&R draws the zones so good you just cant believe it… :slight_smile: I have gone thrue and scanned alot of S&R on Tradingview and so far none is drawing zones like yours do… Of course if I could draw them manualy… but I dont trust myself.

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Yes it is surprisingly accurate and you can see the retracement of the price when it touches H1 smaller than D1 and the retracement of D1 is smaller than W time frame S&R.

Are you using the default settings?

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Yes default… H4 and D… I just changed the colours so I se candles clearly.

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Hey I se that I had H1 on second… Iam changing to H4… its good that I saw that…

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Closed in profit TP 100.21$

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Position nr 3 :wink:

Loss on this one… Also switching to H4 … as you said Ahmed its more reliable.

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Well done, I follow H4 / D1 on some pairs as they give more pips and their turning points are a bit more reliable than H1.

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Spice it with IC Trendlines

Its comforting with Daily trendline near… :slight_smile:

If it bounces from a D trendline and resistance… :wink:

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Here is some results…

Trend continuation… Waiting for retracement, bounce and entry… :slight_smile: I am not searching for more strategies… Going for this one :wink:

And I look D, 4H and 1H charts… entry on 1H. Never shorter than 1H.

I dont use Stop Loss… I watch it and when I think I am wrong I close in loss… If it goes in wrong direction but still overall trend is holding I ride it untill in profit :wink: . … I never trade pullbacks … pullbacks can destroy accounts when u’r wrong…

And finaly I watch economic calender and dont trade pairs when big news is…

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Thanks for sharing @Drasko :clap:t3:

Please confirm if:
Your chart is on H1
Trend lines is on H4 and D1?
Support and resistance is on H4 and D1?

Support Resistance only D1
Chart 1H
Trendlines 1H, 4H, D1 … I dont look at lower trendlines at all.

I have added Moving Aver… 20,30,40,50 and 200 … so if I see nice trend between the Support and Resistance I take trades if it bounces from 20 MA… retrace and bounce from 20 MA…

Something like this…

If price breaks 200 and retest 20 Ma and room to go for support or resistance I am in that trade :slight_smile:

Smoothed MA

Maeby you have heard that a “Bounce” from the 50 MA is the prefered… 20 Smooth MA = 50 Expo MA :wink:

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Good strategy, thanks :wink:

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U’r Welcome :wink:

Its alot of work to reach freedom :slight_smile:

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