Hey everyone,
I would like to ask you for little information and experience with trading price action and particular with Support and resistance levels.
I trying to trade S&R on 5min. time frame as my trade plan is for intraday, but I have problems with entry points with S&R. What I mean is, that when one level for example support was broken, immediately this level becomes resistance, and when I waiy price to retest this level, to know is this broken level are real, or just false, most of the time price didn't turn back to test this level or just correct very little, but still far away from the level, and I miss the whole trade.
Any opinion, and advice?
This is two examples what Im talking about, where price didn't turn back to the level to take the trade:
I would like to ask you for little information and experience with trading price action and particular with Support and resistance levels.
I trying to trade S&R on 5min. time frame as my trade plan is for intraday, but I have problems with entry points with S&R. What I mean is, that when one level for example support was broken, immediately this level becomes resistance, and when I waiy price to retest this level, to know is this broken level are real, or just false, most of the time price didn't turn back to test this level or just correct very little, but still far away from the level, and I miss the whole trade.
Any opinion, and advice?
This is two examples what Im talking about, where price didn't turn back to the level to take the trade: