📈📉 Let's talk real support and resistance, not just noise. I learned this lesson the hard way, wasting capital on fuzzy levels. True S/R forms where price has multiple, clear rejections or reversals. Previous major highs or lows become crucial; traders who bought at an old high are often keen to exit at break-even if price returns, turning resistance into support or vice-versa.
For entries, wait for a bounce *from* genuine support (long) or rejection *from* resistance (short). If ETH finds strong support at $1950, I'd consider a long entry there. My stop? Just below, maybe $1935 – protecting capital is key. My target would be the next significant resistance, like $2050. This gives clear risk/reward. Stop guessing. Use these clear zones to define your trades; it makes a huge...
For entries, wait for a bounce *from* genuine support (long) or rejection *from* resistance (short). If ETH finds strong support at $1950, I'd consider a long entry there. My stop? Just below, maybe $1935 – protecting capital is key. My target would be the next significant resistance, like $2050. This gives clear risk/reward. Stop guessing. Use these clear zones to define your trades; it makes a huge...