when all red and fisher lower than zero. Indeed, traders like George Soros, Warren Buffet, Jesse Livermore and others, all pay (paid) close attention to the key levels in the market, because they know that these levels are significant and can thus have a strong impact on the direction of price. With a total of 9 trades, I could end the week with.59R profit. We didnt get a lot of signals in this range, but there were at least three good pin bars that formed off the support of the range that traders could have made some very good money. The way that we take advantage of these horizontal level swing points, is to watch for price action strategies forming near them as the market pulls back. As price re-tests the event area we would watch closely for price action signals, as the formation of a price action signal at an event area is a very high-probability event. Look at the illustration below, note how the market is trending higher and as it makes new highs it also creates resistance when it falls away from these highs, then as it pulls back the previous high / resistance actually turns into support (swing point). In closing, trading horizontal levels with price action signals is the primary technique that I use to analyze and trade the market. However, I do consider horizontal levels to be the core piece of confluence in my trading strategy and I want to show you guys some examples of how I use horizontal lines and price action to trade the markets.
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This week:.59R, this brings the running total for August on.98R profit, with still a remote work from home jobs canada few trading days. Horizontal levels provide us with a confluent area to trade from, but they are not the only factor of confluence that I look for; the more factors of confluence you have lining up with a price action signal the better. Real-life examples of trading price action at horizontal levels. 1 note the trading range that the eurusd was in for about 3 months earlier this year. 3 next, we can see an inside bar and a pin bar setup that formed as the market trended lower.
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