Using support and resistance on daily charts
by Prasanna
(Mumbai ,India)
Plot support & resistance on daily charts, you can also use FRACTALS for this.
STOCH. ( 14 5 5 ) for overbought & oversold levels.
For BUY : BULLISH CANDLE at support level & STOCH in oversold moving upwards from 20 , Stop Loss below latest swing low FRACTAL
Take Profit : RESISTANCE ZONE.
For SELL : BEARISH CANDLE @ RESISTANCE LEVEL & STOCH ( 14 5 5 ) in overbought , moving downwards from 80.SL above latest Swing high FRACTAL.
Take Profit : SUPPORT ZONE.
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