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Jayza1988

694 Posts.

04/04/17

15:41

Post #: 23848551
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Originally posted by Jako64 ↑

I would almost always look at a weekly chart first, zoomed quite a way out, to get some sort of understanding of where price has been, and where it is now.
Then I would stay on the weekly, but zoom in a bit, and try to get an understanding of the last major pivot and therefore the expected current influence over the chart, and the current trend, and then the more recent trading. (and if I cannot get a reasonable understanding using the weekly chart, I would move out further to a monthly chart). Then once I am fairly happy I understand what has probably been going on (recently), I would normally switch to a daily chart, and usually look at 100 - 140 bars (but more If I need to for some reason....and sometimes less). So I am usually looking at 5 - 6 months of trading on a daily chart, but I pay most attention to the current trading (over the last few weeks) in relation to the important support/resistance levels, and how price has responded to them, within the overall trend.

cheers

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Thanks mate.

And what about the support levels, do you tend to pull them across to the current day i.e. my red lines would end where the purple lines end?
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