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Identifying support & resistance levels for day trading
Check out my video below on how to identify support & resistance and other key levels to prepare for day trading session.
I am using S&P 500 futures, ES, 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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Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
