Breaking out of a major daily structure can lead to impulsive and volatile moves. Major supports/resistances (dashed lines) and major daily decision points (black circles) are shown. It's important to also know other potential smaller decision points on smaller time frames (4hr) so you're not caught by surprise after breaking/bouncing on a major daily decision point.
I've left other technical indicators off this template so it's clean and simple...however make sure to DYOR with other indicators before trading.
Good luck.
I've left other technical indicators off this template so it's clean and simple...however make sure to DYOR with other indicators before trading.
Good luck.