#5: Trading Support And Resistance Levels In Larger time Frames Offer The Best Risk:Reward Outcomes
Again, this is so obvious.
Go open up your chart and look at a past support or resistance level and imagine what would have happened if you bought at the support level and held your trade for 15 or more days?
Did price move 700 pips? 1000 pips?
Let’s look at a “what if” scenario.
Trader Joe Blow saw this major support level/zone and took a buy trade.
His stop loss was only 40 pips.
His take profit target was the obvious resistance level above.
About 2 months later, his profit target was hit, giving him 400 pips profit.
His risk:reward=1:10. Awesome trade outcome, in my opinion.
Now, this example above is for trading support and resistance on larger timeframes but even in in smaller timeframes, the risk:reward of trading support and resistance levels there are pretty much going to be the same.
Thx RKay for all information u r giving for free in here, I hope u receive much reward for ur informative nice action, God bless u. I am a new trader, learned to trade good enough not to loose and make some profit. I use ur website for learning and ideas. just wanted to thank you.
It is confirmed views that support & resistance should be visible on the chart. You have given a download link for MT4 . I use amibroker & it works on AFL format Can you please convert MT4 into AFL.
Presently, I use demand-supply AFL.
Pl see if this could be possible if so pl send link to my email.
i’m not sure what link you are talking about here because there is no link in that post…other than the “related posts” links…