Support and Resistance Strategy
(Note: This is only for educational purpose dont try without practice minimum 3 months)
Chart Setup
1. Chart type Line style
2. set timeframe 1 hr
3. draw horizonal lines based on previous high and lows
Draw Horizontal Line
black lines are support and resistance
After draw the support and resistance lines
You can set chart setup to candle type
1. Chart setup line to candle style
2. Time frame change 1hr to 15m
3. Add Three exponential moving average of ema studies with ema(close,15)period and ema(high,50) and ema(low, 50) in the chart
Buy Entry (Ensure you should conform trend is up )
ema(close, 15) cross above ema(high,50) so in this case green cross above yellow line is entry to buy
Buy Exit
Already drawned Resistance line(one hour blackline) will be exit of buy)
Sell Entry
ema(close,15) cross under ema( low, 50) period so
green line cross under redline you can sell entry ( Ensure you must conform trend is Down)
Sell Exit
Already drowned Nearest Support Line(one hour black lines) will be exit of Sell
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