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Re: Using Daily Support/Resistance for Intraday Trading
I find that plotting intraday support and resistance lines before the day actually helps me quite a bit. Even if I miss the day, when I come home and see how well they worked I am usually surprised. If anything, they can yield nice scalping trades.
The other nice thing you have on your chart is a hanging man right at resistance on the daily. This indicates that selling took place in the trend (up) and could have resulted in a nice scalp at least to the low of the candle or however your risk/reward plan is setup. But there are at least two great trades in that one small chart.
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