Identifying support and resistance levels for day trading
Check out my video on how to identify support & resistance and other key levels to prepare for day trading session.
I am using S&P 500 futures
ES1!
as examples to prepare for trading session on 16 & 17 Apr 2020 (Thurs, Fri).
Key levels I pay attention to:
The day trading process is very simple. Basically just to pay attention to how the price interacts with the key levels and trade on reversal or continuation.
I am using S&P 500 futures
ES1!
as examples to prepare for trading session on 16 & 17 Apr 2020 (Thurs, Fri). Key levels I pay attention to:
- Previous day high
- Previous day low
- non-Regular Trading Hours (RTH) high
- non-RTH low
- Swing high from a few days ago
- Swing low from a few days ago
- Swing high/low formed during the trading timeframe (M3, M5).
The day trading process is very simple. Basically just to pay attention to how the price interacts with the key levels and trade on reversal or continuation.
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