1. Leave only one candle item:

With a clean screen, only Candle Stick can help us see the Key Levels and the dynamics of the market around it most clearly.
  • Key Level: This is the main resistance level and is usually drawn from the Weekly time frame.

2. Start drawing Key Levels from Weekly Chart, for a long-term view
(The orange line is W, blue is D1, yellow is H4)

Start drawing Key Levels from the Weekly chart, we will have a more accurate, clear, and long-term view.

See the example below, most of the Key levels are drawn from the old price ranges, when the candle hits, it often turns.

3. What are we going to do on the Daily Chart?

After we draw the Key levels at W, the next thing is to define the Key Levels at Daily, one of the most important Time Frames of the people of Price action.

Here we can identify the short-term Key levels that are invisible at W. These important Key Levels give us more market entry opportunities known as a Near-Key Level.

4. What to do on Intraday (H4 & H1)?

At these timeframes, it is mainly to see the reversal signals at Key Levels D1 and W, combined with the difference in Price actions adjacent to the above points, which is negative.

Limit drawing Key levels from these charts, it will be very easy to be disturbed.

However, we can also draw the Key level that we think is important, which cannot be seen at D1 and W.

Things need to notice :

1. The difference between "Key Level and Near Key Level".

Key levels are very important points, it determines the market to long-term up or down.

The Near Term Level is also important for determining the market level in the short term.

2. Don't draw too many Key Levels on the chart:

We just need to take care of Levels near us.

If the drawing is too much, it leads to noise and cannot be analyzed.

3. Key Levels are not always drawn correctly:

Many times it has a negligible number of Pips, it can be adjusted to cross the previous real body, as long as it is best suited for the Key Levels at the current price.

At the end of each day, we can make adjustments so that the Key Levels are in more precise positions.

4. Literature review for martial arts, practice a lot for the skill before leaving school.

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