Support & Resistance Continuation Setup ( Low Risk Setup )
Support & Resistance Continuation Setup is a low-risk setup where you can ride along with the trend. As a family reminder, the trend is your friend.
All it takes to do this setup is a trendline, zones and the formation of the candle or Price Action. What we need to look for is a continuation formation of the candlesticks which is, Rally-Base-Rally (RBR) for uptrend continuation setup and Drop-Base-Drop for downtrend continuation setup.
The SOP for this setup is :
- Draw 2 points or 2 touches of the trendline (You can draw it from Wick-To-Wick or Body-To-Body).
- Look for Strong Resistance or Strong Support.
- Look for continuation formation of the candlesticks.
If there is no one of the listed SOP above on the chart, the possibility of the price reacting the way we predict is dropped below 50% immediately. To counter this problem, if your plan is to buy, you can sell it instead once the price making a breakout of the zone and making a pullback into the zone and vice versa.
From my personal view, this is the easiest setup for beginners to learn.
All credit goes to by the name of Bystra.
P.S, sorry for my bad English. Have fun and good luck! :)
All it takes to do this setup is a trendline, zones and the formation of the candle or Price Action. What we need to look for is a continuation formation of the candlesticks which is, Rally-Base-Rally (RBR) for uptrend continuation setup and Drop-Base-Drop for downtrend continuation setup.
The SOP for this setup is :
- Draw 2 points or 2 touches of the trendline (You can draw it from Wick-To-Wick or Body-To-Body).
- Look for Strong Resistance or Strong Support.
- Look for continuation formation of the candlesticks.
If there is no one of the listed SOP above on the chart, the possibility of the price reacting the way we predict is dropped below 50% immediately. To counter this problem, if your plan is to buy, you can sell it instead once the price making a breakout of the zone and making a pullback into the zone and vice versa.
From my personal view, this is the easiest setup for beginners to learn.
All credit goes to by the name of Bystra.
P.S, sorry for my bad English. Have fun and good luck! :)