Horizontal Support

Question 1

Is drawing a line on a chart and art or a science

Answer 1

It’s more of an art - focus on high probability setups and levels that are obvious

NEVER FORCE LEVELS that are not there

Question 2

What is the first restest of a level likely to produce?

Answer 2

A bounce, first retest from the same direction is the least likely to penetrate

The more retests the more likely it breaks

Question 3

What makes a level strong?

v
And
R

Answer 3

The violence with which price bounces off the level (bigger bounce = stronger level)

Recency of the level, more recent levels are more likely to be valued by traders so it’s a self fulfilling prophecy

Question 4

What’s a good opportunity to make money

Answer 4

Trading a recently broken S/R (with leverage even)

First time price hits S/R from on direction is fine it’s most likely to not break through

Question 5

What is a micro and rounded retest? (Rounded is a macro)

Answer 5

Question 6

What are micro retests more likely to do?

Answer 6

To break support or resistance

Question 7

What time frames are micro retests traded on

Answer 7

5 minute
15 minute
1 hour

Question 8

What are rounded retests more likely to do than micro retests

Answer 8

More likely to bounce and not break through S / R

Question 9

What is More reliable than a lower time frame support or resistance?

Answer 9

A higher time frame support or resistance

Question 10

What balance is needed with Setup quality

Answer 10

Frequency of setups

Question 11

Which time frames does crypto cred use to find setups

Answer 11

1 hour
1 day