By the end of this session you will:
- Know how to identify and draw in all the key support and resistance zones (on both the vertical and horizontal scale) that will come into play in the current session
- Understand how to use the overnight action for additional zones
- Understand the key principle of confluence, and be able to gauge which zones carry more weight and offer better probabilities for price reaction
The benefits this session will give you:
- Correctly identifying the zones where price is likely to react or reverse is a key skill that will allow you to pick much better entries and also be able to know where it’s best to exit to protect your profits. Most traders use indicators and patterns to enter and exit, while you’ll learn to use the more powerful realities of developing market structure.
Daily Trade Plan Development in Action (Step 2) Key Takeaways (PDF)