1. Support and resistance zones shown in yellow.
2. Dark blue line showing direaction and red lines showing trendlines and target.
3. D1 showing a FLAG, hence continuation of trend.
4. Looking for breakout and a retracement.
4. Keep in mind that when price breaks through support the level will be tested in future as resistance – role reversal.
5. Direction of price is indicated by 5 and 8 MA’s and stochastic cycles. Remember that when you line up higher and lower time frames, price is going in the same direction. The goal is to line up market and price while using support and resistance as your leading indicator.
6. Pay attention to reversal patterns on lower time frames when confirming your entry and if you want additional confirmation wait for a 5 8 cross on M5 or M1 before entering your trade. Remember – we enter on the second chance on the 5 minute chart.




Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.