HEAVY Support/Resistance System - MT4/MT5 Resources
Heavy duty support/resistance system
About me: Only been trading for about 3 years.
25 years old, Singapore, will turn 26 at the end of July.
Do manual and EA trading,altcoin mining and website related stuff.
A diagram tells a thousand words. But the type of information gained from charts is different for every trader
However the chart does mention a good sell, but the price could still move higher as the top has not yet been reached. However it is only compared to somewhere in between, with a move into the 1.6500 area being a good entry point .
Never go long/short a pair because it is close to a round number or a "good price", instead you should use historical data such as H1, H4 TF, etc. to see previous reactions to price areas which will tell you where possible sellers or buyers may be hiding looking for opportunities to enter.
Another example for AUD/USD:
Another example for USD/JPY:
*Don't worry about the buy on this chart as it is an EA that I forgot to close and it is not my real entry point, my real system is on a non MT4 system.
Each day, there will be multiple entry opportunities at strong support and resistance levels.
If you like this system, you can also share your observations of other pairings
Currently in a heavy support/resistance zone.
In the future I will post more live charts rather than historical charts. This is just the beginning. Hopefully traders will also share their support/resistance with live chart observations using images.
No matter how good a metric you get, it's always "laggy" and not the best thing to think about. The best way to trade is to use your eyes to look for price movements. In my context this is support/resistance, high volume @ low/high - market action of buying/selling at a specific price.
There is no guarantee that price will react the same way when it hits the same area, it's more about not picking a low or high but setting a stop loss to minimize the impact.
I have seen many systems, but the best system I have found is to trade with the market, the trend, and if there is strong buying, that is a turning point and vice versa. It's never easy to stay steadfast in this ideological thing, but over the past month it's given me more withdrawals than deposits. My return on investment is over 100%.
About me: Only been trading for about 3 years.
25 years old, Singapore, will turn 26 at the end of July.
Do manual and EA trading,
A diagram tells a thousand words. But the type of information gained from charts is different for every trader
However the chart does mention a good sell, but the price could still move higher as the top has not yet been reached. However it is only compared to somewhere in between, with a move into the 1.6500 area being a good entry point .
Never go long/short a pair because it is close to a round number or a "good price", instead you should use historical data such as H1, H4 TF, etc. to see previous reactions to price areas which will tell you where possible sellers or buyers may be hiding looking for opportunities to enter.
Another example for AUD/USD:
Another example for USD/JPY:
*Don't worry about the buy on this chart as it is an EA that I forgot to close and it is not my real entry point, my real system is on a non MT4 system.
Each day, there will be multiple entry opportunities at strong support and resistance levels.
If you like this system, you can also share your observations of other pairings
Currently in a heavy support/resistance zone.
In the future I will post more live charts rather than historical charts. This is just the beginning. Hopefully traders will also share their support/resistance with live chart observations using images.
Insert video
No matter how good a metric you get, it's always "laggy" and not the best thing to think about. The best way to trade is to use your eyes to look for price movements. In my context this is support/resistance, high volume @ low/high - market action of buying/selling at a specific price.
There is no guarantee that price will react the same way when it hits the same area, it's more about not picking a low or high but setting a stop loss to minimize the impact.
I have seen many systems, but the best system I have found is to trade with the market, the trend, and if there is strong buying, that is a turning point and vice versa. It's never easy to stay steadfast in this ideological thing, but over the past month it's given me more withdrawals than deposits. My return on investment is over 100%.
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