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Support & Resistance Strategy Guide

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371 views

Support & Resistance Strategy Guide

Uploaded by

Christopher McManus
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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THE ULTIMATE TR ADERS PACK AGE ON DEMAND™

STR ATEGY GUIDE

Support and Resistance


THE ULTIMATE TR ADERS PACK AGE ON DEMAND™ STR ATEGY GUIDE

Support and Resistance

Trading Pivot Points of Support and Resistance Found on Daily,


Weekly, or Monthly Charts
…… Look for a major Pivot Point of Support or Resistance being hit on Daily, Weekly, or Monthly
charts. After you find the Pivot Point from compressing the charts, turn to a smaller time
frame (i.e. 2-hour) and look for Candlestick Formations, Inner or Outer Trendline Breaks,
Stochastic RSI in the proper Buy or Sell Zone, or a combination of all three for your entries.

Rules:

…… Once major Support or Resistance is being hit on a larger time frame (i.e. Daily), turn to a
smaller time frame (i.e. 2-hour or 1-hour). Whichever time frame you will be trading will be
considered the smaller time frame.

…… When the market reaches Support, turn to a smaller time frame (i.e. 1-hour or 2-hour),
look for a Downtrend Line Break, Bullish Candlestick Formations, or a Bullish Crown and
then buy the market trading ABCD Trading strategies back to Resistance.

…… When the market reaches Resistance, turn to a smaller time frame (i.e. 1-hour or 2-hour),
look for an Uptrend Line Break, or Bearish Crown and then sell the market trading ABCD
Trading strategies back to Support.

…… Continue trading in that direction until the new major trendline is broken.

Protective Stops:
…… 30 pips beyond the Candlestick Formation low of Support or high of Resistance, depending
on the direction you are trading.

Limit Exits: (Can be based on several different exit strategies)


…… Trade the ABCD’s applying any of the ABCD Trading strategies until the new major trendline
is broken or it crowns.
…… NOTE: On the smaller time frame you are trading, you can trade any ABCD Trading strategy
and waves back to the .382 on the larger time frame.

The Ultimate Traders Package On Demand™ Strategy Guide • ©Market Traders Institute, Inc. 2018 1 of 4
Trading Pivot Points

The Ultimate Traders Package On Demand™ Strategy Guide • ©Market Traders Institute, Inc. 2018 2 of 4
THE ULTIMATE TR ADERS PACK AGE ON DEMAND™ STR ATEGY GUIDE

Support and Resistance

Trading Past Resistance/Future Support or Past Support/Future


Resistance Inside the ABCD Price Swing to the D Extension
…… Compress the charts and see if the market is in an uptrend or downtrend.
…… Find and mark your current A,B,C,D’s, Sub a,b,c,d’s and Fibonacci’s on the Daily chart, and
2-hour chart. Adjust them as needed.
…… Only trade this strategy in an up or down Push Zone or and up or down Retracement Zone
on a daily chart.
…… If a signal hits, figure out if the market is moving from B-C retracement or a C-D extension
(Push Zone) of the recent A,B,C,D uptrend. You should only be trading in the direction of
the C-D up price movement.
…… Look at the time and figure out if you are in the Active Zone or Dead Zone.
…… After you enter, draw a 25 degree angle trendline from the most recent low if going long
and most recent high if going short..
Rules:

…… If the market is in an uptrend; find and mark Past Resistance inside the up A-B Boundary
or in any up sub a,b,c,d boundaries. Look for a Bullish Candlestick Formation along with
an up Counter Trendline Break. Enter the market when the market breaks the up Counter
Trendline with a Bullish Candle that has closed beyond the up Counter Trendline (75%
Preferred).

…… If the market is in a downtrend; find and mark Past Support inside the down A-B Boundary
or in any down sub a,b,c,d boundaries. Look for a Bearish Candlestick Formation along
with a down Counter Trendline Break. Enter the market when the market breaks the
down Counter Trendline with a Bearish Candle that has closed beyond the down Counter
Trendline (75% Preferred).
Protective Stops:
…… Can either be beyond the A, or 10% beyond the lows of the candlestick formations in an
uptrend and 15 pips beyond the highs of the candlestick formations due to looking at bid
charts in a downtrend. Just remember when placing a stop inside the A-B Boundary you
increase your chances of getting stopped out early by 80%.
Limit Exits: (Can be based on several different exit strategies)
…… Figure out the DTR for that currency and exit 10 pips before it hits the DTR.
…… Exit 10 pips in front of the D extension.
…… Exit if the market breaks the 25 degree trendlines with opposing closed candles on the
other side of the trendline.
The Ultimate Traders Package On Demand™ Strategy Guide • ©Market Traders Institute, Inc. 2018 3 of 4
Trading Past Resistance to Become Future Support

Trading Past Support to Become Future Resistance

The Ultimate Traders Package On Demand™ Strategy Guide • ©Market Traders Institute, Inc. 2018 4 of 4

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