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Kangagirl

1,917 Posts.

138

30/08/22

14:13

Post #: 63409056
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Originally posted by rick64: ↑

Thanks for the chart Kangagirl. Would it be too much to ask how you distinguish between the S/R levels at the red lines compared those at the green boxes? I have trouble separating a definitive line from an area of S/R unless it is absolutely obvious. Sometimes the areas look so mixed it becomes impossible to define.
See the area I have shaded in blue, I see this as a consolidation area but it is a long way between 1.11 and 1.35. Even 1.14 to 1.35 is nearly a 20% move.
I guess the better traders would be trading this range.
GRR is similar range, looked like it wanted to break out north but obviously the drop was F/A news related in this situation.

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My support and resistance points are where the arrows are...

The green box, I've extended it a bit, is my demand zone...proximal line is the top of the body of the first red candle after a rally (rally, base, rally) Distal is the bottom of the wick on that candle.

And underneath a couple of short term support lines.
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