Advice to plot S/R levels logically.

Bordux

Recruit
Messages
45
Hello traders. I've stumbled across an issue where I find myself struggling to logically plot S/R levels on 1 hour chart. As I understand, the S/R levels on daily charts have a more significant influence on the price movement. What I'd like to know is what would you do to plot S/R logically for 1h chart trading; would you plot all the S/R levels on the daily chart and ignore the rest of them that appear on 1 hour or 4 hour charts while mainly trading on the 1H chart or would you instead look for S/R levels in the 1H chart?
 

Pharaoh

Colonel
Messages
19,892
Here's something you can try. Plot S/R on a 1 hour chart, and then see if any of those are close to S/R levels on a higher time frame chart.

A certain amount of what makes S/R work is the expectations of traders that the levels will hold. If you see the same levels on 2 time frames (or by 2 methods), then you'll be looking at levels that a greater number of other traders are seeing.
 
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