WHAT BENEFITS YOU WILL GET FROM THIS LESSON
1) Positions of the main levels of support/resistance where the current trend ends and a new one begins;
2) Prices, at which it’s better to close the deal on take profit and open a new deal;
Perhaps you run into a situation when there are so many levels drawn on the chart that you are unsure about strength of each single level, and you can’t tell which one is no longer relevant, and which one should still be taken into account. Which one is going to be broken along the trend, and which one indicates that it’s better to close the deal right there?
When such feeling of uncertainty arises, you tend to close the deal much earlier than you should, while the market continues to move along the trend, but without your deal in it, and you miss out on a great deal of profit.
I differentiate SR levels by significance. There are local/intermediate levels having low strength, and there are strong strategic levels, capable of reversing daily, weekly and monthly trends.
You are going to learn how to tell which level is the market’s anchor, from which it will move to the next target of the same scale.
Therefore, you will understand which levels will be set as the market’s next targets, and which levels will be merely a temporary barriers – meaning it’s not worth closing the deal upon reaching these, and instead you should wait until our strategic target is reached and close the deal there, which multiplies resulting profit as the deal was kept open over a greater amount of pips covered by the trend.
3) Trade from levels of reversal;
When the price gets to SR level, before the market begins reversing from it, it can be falsely broken to both sides many times, and only then the reversal begins.
4) Confirm trend reversal, avoiding false deals upon over-break of levels;
5) Open safe deals upon breaks of confirmed levels on the very top/bottom of the trends;
For this reason, it is very important to have a confirmation signal, which shows that a real trend reversal is unfolding.
If, however, a trader immediately opens a deal from SR, without a confirmation signal he can re-open and close it with loss multiple times. As a result, all the profit from the following trend only makes up for losses taken on attempts at entering the market.
So, a reasonable trader always waits for a confirmation signal, and stays away from wasteful attempts.
Just open one deal when it’s safe to do so after a confirmation signal, place stop loss behind signaled level, avoid losses and multiply your profits.
6) Know exactly the next target level of the market as soon as the current level gets broken;
You will determine a long-term target, medium-term, and a short-term one. If your type of trading is intraday, you will have an opportunity to close the deal at levels, which can’t be potentially broken during the current trading session. This makes for the maximum possible profit.
7) Predict the market and build your own trading plan relative to determined levels;
8) Lay out charts from greater time frame to a lesser one, from monthly to 1-tick, for intraday or swing trading respectively;
If you wish to spend as little time as possible at the trading terminal (PC), but still manage to take profit from the whole trend – choose the long-term target.
You will learn how to make predictions of the market prices, devise your own trading plan according to those prices depending on your personal needs. You will know for sure which level is the next market target at any given time, and which price will be reached after that target gets broken.
9) Place stop loss behind a significant level along the trend, protecting your profit and keeping potential loss at a minimum;
SR level is a factor that limits trend building, as such when you place stop loss behind it, potential loss of the deal will be as small as possible. You will have better guarantees than just hoping for the better, staying up late meditating at the charts trying to make the price move in the favorable direction. You will determine the price and see upcoming market movements ahead of time when that price is reached.
With that certainty you will have zero reasons to move stop loss against yourself, letting the loss increase. You will be confident about the market behavior in case a certain level gets broken. For example, you will see that the market reverses against you, and conclude that you should not move stop loss in hope that it reverses again, instead you should close the deal right there, save yourself from anxiety and loss of money. This way you only take a minimum loss, move over this deal, and calmly wait for the next opportunity to open a favorable deal.
Also, if you build up deals amount along the trend, you will be able to tighten stop losses of the previous already profitable deals, positioning them at current nearest level. So even if the market breaks the level and hits your stop loss, the profit made so far will be safe (contrary to the case when the market has already reversed against you and continues unfavorable movement, and all your opened deals become increasingly loss, possibly leading to loss of the whole deposit).
And if the trend favors you and doesn’t hit your stop loss, your profit will increase in progression, as it will be multiplied by amount of your deals.
1) 49 pages in PDF with trading rules and real-life examples;
2) 1 hour 32 minute narrated video with examples and explanation.
4. Course synopsis
6. SR forming conditions
7. Core meaning of SR levels
9. Volume profile as SR or candle close at SR?
11. Why support becomes resistance
14. When SR loses significance
17. Averaging of multiple SR levels by greater SR
21. HL (high/low) level
24. Trading with HL on trade reversal. Confirmation trade reversal
29. Counter-trade with HL against the trend
32. Difference between SR and HL
33. When trading upon HL break along the trend is ok
35. Trend types by strength and how to trade them with SR and HL
38. Predicting market targets by SR
43. SR and HL on time frames lesser then h4
47. Colors and display settings for the time frame, SR, and HL
48. Questions you may still have after taking the course
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