Practical Exercise 4

[Simon Dyde]

Hi All,

Please see attached screenshot of untested resistance, yesterdays 15 min chart.

Regards,

Simon

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[Rich Fitton]

Hi Simon,

Yep, another good level you’ve found there.

[Steve Hall]

I have placed what I think are support and resistance levels on the charts attached – any and all feedback is welcome!

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[Steve Hall]

…2 more.

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[Rich Fitton]

Hi Stephen, good work on your S&R levels, you’ve found some great reference points to use in those markets. There were a couple that looked just a little bit off… remember to use the concept of those higher levels of volume laid down inside the candle real-bodies as potential levels for us to trade around. I’ve attached a screengrab with a couple of amended levels marked on and arrowed the candles that I used.

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[Steve Hall]

Thanks – I looked back at all of these and I think I made similar mistakes on most of the charts – I’ve uploaded some updated ones – would be grateful if you could have a look at these.

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[Rich Fitton]

Hi Stephen,

Yep, you’ve got it 🙂 If you’re ever in any doubt just try to think where the chart is suggesting those pockets of higher volume by inspecting the candlestick bodies.

[Author]

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