Using Higher Time Frame Support & Resistance (Video)
Cracking Forex's S&R Code
Sometimes when day trading the markets price can stick around a certain point for a long period of time, this can be frustrating and sometimes can lead to traders just getting into a false entry. Whilst the Day Trading Software does a fantastic job in warning you not to enter by coloring the bar gray and also by plotting the resistance with small dots, it can sometimes be helpful to drill down to a smaller time frame to see what is going on.
In the video below you can see me do exactly this and you can see on the 5-minute timeframe we have started a small uptrend but its hitting resistance which has been plotted by the day trading software.
This is what the software is designed to do, it does not just give entries and exits, it shows support and resistance and range bound markets.
Be patient and wait for the system to all line up. This is where consistent profits start.
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