Strong Levels
Support Lines (SL): represented by the horizontal white dots.
200 Simple Moving Average (SMA): represented by the purple trendline.
I trade horizontal support lines made from a TD sequential trend.
Trades are based around the 4-hour support lines.
I’m able to present long and short entry positions but whether you are able to enter those positions, manage your risk level, and close in the green is up to you.
Usually I front run the SL but that also reduces my edge, making me take on more risk, but allows me to catch the price if it does not fully reach the SL
If the price closes above the white SL, I become long and close my short positions.
If the price closes below the white SL, in which case I become short and close my long positions.
Trades are made around candle closes not wicks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.