MY STYLE - BLOG
One simple way to trade is to identify supports and resistances and trade the trend based on them. An example of that is in the attached image. The way the supports and resistances are drawn as equidistant lines, immediately reveals the underlying trend eliminating noise. By using the supports and resistances as the basis to draw trend lines, rather than high-lows or close or averages, the trend becomes ordered and follows classical swing rules.
The example on the left is drawn on 1 minute charts and the one below on 2.5 hour charts, showing how the approach is scalable.
Just one of the innovations at work at TradeWithMe.
Abnash Singh, Am a Trader helping small traders to realize their dreams.