strong buy @ max resistance area is level of highest resistance a script is likely to face from previous days of price action, though not computed those ways but in most cases, it represents the zone of call writers, historic resistance (in time frame u are trading) could bring reversal once we have price rejection from the area. it’s a area of high activity thus a user should be trading with caution and waiting out for strong buy signal for a highly trending move.
rules for trading max resistance area:
1) strong buy candle should be fully green
2) in case follow up candle is big and meets first 2 levels in a single move, our entry should be on hold and wait for price to retrace back to max resistance area.
3) upon retracement if we get consolidation with green candles, we can plan an entry above high of reference candle with ref candle low being sl.
4) targets will be levels above
5) in case of strong buy till price is trading above max resistance area, upon breaking of each level new entries can be initiated by keep low of breakout candle as sl.
rules for trading max resistance area:
1) strong buy candle should be fully green
2) in case follow up candle is big and meets first 2 levels in a single move, our entry should be on hold and wait for price to retrace back to max resistance area.
3) upon retracement if we get consolidation with green candles, we can plan an entry above high of reference candle with ref candle low being sl.
4) targets will be levels above
5) in case of strong buy till price is trading above max resistance area, upon breaking of each level new entries can be initiated by keep low of breakout candle as sl.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.