The uppermost resistance indicates the hourly resistance, and the lowermost support shows the H4 support zone. The 2 inner zones indicate the smaller price action movements that represent the retests. Therefore, I'm expecting price to reject and rally via the inner support level. Next, the price will pullback and break the support downwards to the H4 support zone.
@ZHETT, I primarily use support and resistance to forecast price fluctuations. Support and resistance is a solid strategy for many traders, as price repeats itself, and it applies to any timeframe. Message me if you have any further questions!
I actually have a few questions. So, first one, how did you manage to take emotions like fear, anxiety out of trading, and see things so clearly? I have a difficult time adjusting to the fear that comes with placing trades, I'm always anxious as to what could happen even when I'm sure I analysed correctly.
To be quiet frank, I just lost $900 from this USDZAR trade, the one you predicted very clearly. Fundamentally it didn't make sense why ZAR could overpower the USD. I could see the support and resistance but, I placed a buy anyway, now I'm sad because I didn't trust myself enough I think. How did you overcome this feelings?
@ZHETT, Hello, Zhett, I manage fear and emotions by trusting my strategy instead of thinking about how much money I could possibly lose. It's always difficult to place your first trade. Demo practice your strategy for as long as you feel comfortable trading setups with it. Make sure you understand what you're doing wrong when you do lose money. Every trader has lost money, and that is useful because that motivates us to keep working harder and improving our setups. My best advice is for you to practice your strategy and risk management so that you won't lose as much money as you had. Backtest on the Daily chart, since it has less noise (due to news). Then, you can start day trading or scalping. If you can trade successfully on the Daily, you can trade on any other time frame.
Best of luck!
Swig
ZHETT
⋅
@Swig_Signals, Amazing...I'll work on my strategy. And I'll get back to you. Thank you for the advice
Swig_Signals
⋅
@ZHETT, No worries! Feel free to ask me any questions!