The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Hey all,
Al mentioned here that into the end of the Day to look out for Yday's OHLC to act as S/R... similarly for Weekly closes and Monthly closes.
How many Days / Weeks / Months back do you normally go back? Is it just e.g. the prior month that's relevant when we're going into Month-end, or is e.g. 5 months ago's OHLC still relevant as S/R?
Thanks
I go all the way to the left to the most recent high & low. It can even be from 10 years ago; it doesn't matter. What matters is that there is a previous H or L that hasn't been tested, so it is still relevant, therefore a valid S/R.
I see, and why do candles from 10 years ago have relevance today. Is there a rationale behind that?
That is already the answer, expect a retest independent from the time frame.
What matters is that there is a previous H or L that hasn't been tested, so it is still relevant, therefore a valid S/R.
