Now… let’s learn a Support and Resistance trading strategy to profit from breakout traders.

Here’s what you need to do:

👉🏾 Mark your areas of Support & Resistance (SR)
👉🏾 Wait for a directional move into SR
👉🏾 Wait for price rejection at SR
👉🏾 Enter on the next candle with stop loss beyond the swing high/low
👉🏾 Take profits at the swing high/low

Here’s what I mean…

1. Mark your areas of Support & Resistance

2. Wait for a directional move into SR

3. Wait for price rejection at SR

4. Enter on the next candle with stop loss beyond the swing high/low

5. Take profits at the swing high/low

❌❌❌ Support and Resistance trading strategy examples:

Now:

You must understand this trading strategy isn’t the “holy grail”. There are times you’ll lose to breakout traders — and at times, breakout traders will lose to you.

The only way you will survive in the long run is proper risk management. Thus, I suggest risking not more than 1% of your account on each trade.

Conclusion
This is what you’ve learned today:

👉🏾 The more times Support and Resistance is tested, the weaker it becomes
👉🏾 Support and Resistance are areas on your chart (and not lines)
👉🏾 Support and Resistance can be identified using moving average
👉🏾 Don’t place your stop loss just below Support or above Resistance
👉🏾 Trading at Support and Resistance gives you favorable risk to reward
👉🏾 A Support and Resistance trading strategy

Now here’s a question for you…

How do you trade a Support and Resistance trading strategy?

Drop your comment for me in the main group chart. Thanks for listening.

🙏🙏🙏🙏🙏🙏

If you are not on our trading group before here is the link for you to discuss your trades with over 1200 traders

https://yangx.top/cryptosecretexposed

#BTC UPDATE
BTC Corrective Wave C will soon end around 9350-9600, then follow with wave D which will end around 10400-10650. Then the last batch of the wave E will start which will take us down to 7500-8500 Level.

Trading Advice:
Buy BTC at the end of Wave C(9350-9600) sell it off at end of wave D( 10400- 10650)

Then the mega buy will come at Wave E(7500-8500) which will take us up to 14,000 zone.

https://www.tradingview.com/x/URhGWdKa/