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Day trading support and resistance clusters is an extremely reliable way to find strong price levels for entering your trades. These clusters provide a forex trading investment plans probability that the market stock market, Forex, futures or E-minis will hold those levels. They can be used invesrment enter and exit trades for day trading, but also swing trading. Hey my friends, Doctor Barry Burns here with Top Dog Trading.
And today our topic is Day trading support and resistance clusters. The first one is the pivot levels, the floor trader pivots. In between there I also put teading I call mid pivots. I have another video by the way on mid pivots if you want to learn more about those. I would recommend you do look at that. Another day investmen support and resistance level is major swing pans and lows.
Comes up and therefore we draw a horizontal line to the right. Here, if you see this blue horizontal line that came off foex this major low here. Significant low, market retested it here. Even though the dates are little old down there. So we draw investmebt forward. Now here is the point, we are getting a cluster, and these are non-correlated clusters. And we have this support level from a previous major low from the previous day.
They come in around the same tradinf level. Forx of all, I call them non correlated clusters because they are calculated completely differently. The reason that clusters provide stronger support or stronger resistance than a single support resistance level is simply because you have more market participants seeing them under charts. So you got one group of market participants seeing pivot levels, you got tradiny group of market participants seeing trding major swing low from the previous day.
That means now you got more people in the market who investmejt seeing this support level and therefore they are more likely to respond to it, in other words, either buy off of it, or take profits into it. On their chart, will look like minor highs and lows. So again, some people will see these, some wont, depending on the time interval they use. And the reason you have to consider it these zone where the bars are at least touching it, and not just the line is because the movement of markets is not that neat and tidy.
Comes down and retests that general area. So those are more types of day trading support and resistance. I am going to have to squish up my scaling. It can be a neutral day basically. Not bullish or bearish. The next day, coming into the day we have to say okay, how does the market evaluate or value the market today in relation to after all was said and done on the value yesterday.
And then the pivot point is also another neutral point calculated in a very different manner. Some days those are very close, some days they are kind of far away. This day, they are kind of far away. But this whole zone then is neutral. And so it comes close to it so creates forex trading investment plans new line. We come back, what we do, we fofex that high. We come back down, where do we go?
Right to the pivot point again. That cluster of the pivot point, and that previous major low, retest that again. Go back up, where investmdnt we investent This whole day was really much to do about nothing. But at the end of the day, it pretty much closed where it closed the day before. Now one last thing we could add our Fibonacci levels too. Okay, so we added our Fibonacci levels, now talking about clusters of non-correlated support resistance.
So this is a cluster of non-correlated resistance. We have the pivot point, the thicker line, the thinner forx line is that previous major low, and the third is investmemt hundred percent Fibonacci retracement. So a triple cluster which would again make it even a stronger support level. The more types of support resistance you lpans on your chart that are non-correlated, the more likely inestment level is to hold. So on closing I invedtment want to say that you got to have a balance.
Essentially all those lines then become meaningless. Support resistance is broken all the time, all the time. And putting together the clusters is one way of doing that. So clusters is one way of helping with that. So you got to look at what price action is doing as it comes into those levels. How much energy is coming into that, how much volume is behind that move?
How much acceleration, what are the candle stick patterns. Also I am giving away one of my favorite trend trading strategies that work today. Just fill out the yellow foorex at the top of the sidebar on the right. For another excellent trading video including day trading support and resistance clusters, simply click here:. And so I am going to share that with you today. I do use volume in my analysis but perhaps not as much as other people.
Okay, that sentence is completely wrong. Everything about that pplans is wrong. Volume is plxns what it is. The number of shares in the stock market or lots, or contracts, or forex, or futures that are traded. Fofex first of all calling volume an indicator is wrong. It is actually often lagging. You have to look at the whole landscape of the chart.
So for example, you know if I wanted to buy a cycle low here, I would you know buy literally right there. Right at that bar. Now where does our volume increase come? Our Volume increase comes here. And how far does the market go. Well it goes there and then it comes down and it breaks this low right here. That means this is not a good time. If you wait for the volume to increase, you are actually getting in late.
Now look over here. We have another obvious surge of volume right here with this bar. And tradinng is that? That occurs on this red bar. It finally breaks out above that. And so that would almost make one think well maybe some big short selling is coming in. And then the next obvious big surge in volume comes in on this bar. Again late to the party. Not early at the cycle low.
Not even at the break out. And so it occurs in about the middle of the move. Hardly a leading indication. Right moving to another section here. And that is inestment for the beginning of move, you would think that the market would start out with a big surge of volume to get momentum behind the move. Now here is one place where it does provide quite a bit of accuracy and many situations. So we get trzding exhaustion pattern.
The market comes down and this impulse move down ends on exhaustion. It just kind of goes sideways from there. And so again here is another surge of volume. Where it comes in. Not at the low, and not at the high. It comes in in the middle. We get a nice sound exhaustion pattern candle stick, big volume coming in. And I said, no it can just go sideways, here it does. The reason is actually very simple. And the reason is, hold on to your hats.
One thing they do is plabs come in through various means. In other words, they are not going lpans just buy, forex trading investment plans this case Disney, they are going to come in through various markets, through various exchanges, through different financial instruments. The other thing, and they might do it overtime with accumulation. The other thing though that a lot of people are not of aware is dark pools.
What are dark pools? Dark pools are non-exchange infestment in the markets. So they actually will go to a dark pool. Which is basically private exchanges or forums, for trading stocks. And by the way they are a big deal. The pros, the whales, the smart money. The smart money is not showing up here my friends. For another excellent trading video including trading stock market volume analysis, simply click here:. Welcome to this video on Trading Price Action Patterns for Forex Markets, Stock Markets, E-minis, this applies to anything you can chart.
One of the forex trading investment plans techniques of technical forex trading demo reviews that goes way flrex to the days of yore are trend lines on the Forex and stock markets. I never use trend lines. I do not like them. Trend lines we would draw from a high palns a high for example. Then they draw another one because oh this high put in higher high.
But invetsment what, oops that one gets broken. But the market still goes down. And the markets are not linear. Markets are a bit messy. The Invfstment and stock markets are not that neat and tidy. There are long term investors, short term traders, you got people trading options on this stuff. Therefore investmwnt can you expect everybody to be on the same page, enough to make a chart pattern linear. You cannot expect it to be that perfect that you can use linear examples for trends. Invwstment we go up forex trading investment plans and one of the moving averages that I like to use is the Exponential Moving Average.
Works very very well. So now if we look at the same example, where we do the trend line invvestment here to here, then from here, then from here. Forrex actually touches all these points. So this stays below it. That stays below it. That high stays below it. In other words using a moving average instead of a straight line. That it creates that into the future. And so therefore it is really creating a pattern that is more realistic.
And so therefore it continues to create price action. We are still in that directional move, in this case down. Then we can look for another direction or in this case it just goes sideways for a while. And then, oh that one goes little high and maybe from here to here. Again you know, you just start getting messy lines. That you know that. So in forex, I think you probably know that.
Spot forex at least. So there is that issue. There is a lot of variance there. Yeah I could go forex trading investment plans whole thing about dark pools. That, in that dark plaans are really important to understand because a lot of the big orders foerx through dark pools. So that the big institutions can place their orders there and their volume not be tracked by people like you and me. So that also creates some of the unpredictability of the market which is pretty much ppans purpose of them.
Instead of very very linear fashion. Giving it some room to fluctuate, which is what the market does. So if you use straight line, such as trend lines, so-called trend lines. For another excellent trading video including trading price action patterns for the stock market and Forex Market, simply investmejt here:. There are many indicators to choose from and some can be very helpful. Hey planx to this video on trading price action patterns.
Actually this will apply to pretty much any market that you can plot on a chart. What we are going to do is go from a high to a low. The last one in the impulse move down. Now you can just sit there and count ibvestment if you want to. In other words, half this much time going up as it went down. How much time is the market spending going investmentt direction as opposed to the ingestment and that is forsx clue of the dominant energy. Measuring the dominant energy of the market.
As you can see before this, the market had been going up. So we have higher highs here, higher highs here. Alright, so then the next factor is price. As we go from here to here, alright, that looks kind of switched up there. And so therefore confluence of time and price has spent more time going down then it spent time going up, and it covered more price going down, price range than it did going back up.
And now the dominant energy is to the short side. The market really takes off. Oh, By the way one last thing on this, this is called a cycle analysis. This is called right translation. That means we can do this another way too. We can graph it with a little rectangle here. Ah, there to there. What right translation means is if you were to draw a line.
Well what the heck. Horizontal or vertical line here. So frex you go from this high to that, or from this low to that high, to this low. By the way, may bring up my crosshairs over here. Remember we always go to the last low. Bring my crosshairs across so you can see, so therefore we use this bar as our low. We go to the last low, equal lows. There to there, alright we have. Bring our label invesrment here.
Now obviously it spends less price coming down. Comes down, not as far as it went up. But where, how many bars does it take to do that. The point with that is the dorex market participants. Tradng encouraged are they that this is really a bullish market. We want a nice reward to risk ratio. And you are not going to get that on a trade like this. This is an example of hrading translation, by the investmentt.
So if we go back to our rectangle, and we draw it from here to here. Again just a different way of showing the exact same thing by the way. You could see fotex the high comes into the left of middle. Between that low and that low. Cycles are measured from low to low. And then your high comes to the left of it. So and then you can see when it goes down. But boom, spends more time going down, less time coming up. Right, more time coming down.
Less time coming up. More time going down. Trading price action patterns like this can make a big difference in your trading results. This is the kind of pattern that we really like, right here. Where the market, as we talked about before, the retrace in price, how far is it going to retrace in price. So little profit taken will be ok, a tradnig retail buyers tradimg in.
Yeah going along here if we are short. So the best scenario is to get something like this. The market just goes sideways. That means that the bearish energy is still very dominant in this market. Also I am giving away one of my favorite Trading Forex trading investment plans Action Patterns that work today. For another excellent trading video including Trading Price Action Patterns, simply click here:.
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Day Trading Support and Resistance Clusters. Believe me, I know this is a HIGHLY controversial statement. Trading Price Action Patterns for the Stock Market and Forex Market. Enjoy the video and please leave your comments below. MY FREE GIFT TO YOU. You'll receive one of my favorite setups for E-mini trading, Forex day trading and stock market trading: "The Plaans Band Trade.
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