Cenotaph
Long

GBPCHF Long on Higher High

FX:GBPCHF   British Pound / Swiss Franc
There's indecision in the SR zone shown, it price moves beyond this point there's a high probability long opportunity for a 1:1.5 RR ratio trade before it reaches the channel top.

Comments and idea's, please let me know :)

Thanks for reading!
Thank you for this idea , What did you consider when drawing S/R lines ?. If you have any script for those S/R lines, mind sharing it with us ?
Reply
Hi, I don't use any scripts. What I use to identify the SR lines is by going on the 12 hour chart and look for areas where price is bouncing from. If this happens more than 2-3 times, I'll consider it a SR line. It actually doesn't take that long to draw them on one chart, even 10 charts it might take you 5 minutes to do it. Practice as always will help here. There are many good video's on this SR topic on youtube that will explain this in more detail. I would recommend to draw them by hand because it will help you with reading the price action in my opinion. Thanks for your comment
+1 Reply
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