trade a simple Kiss ass template PART 1

Qestion by a trader:
Say your trading a 5 minute chart,would you basically go back a day or two and look for those S&R's and plan your trade with those. I think I am confusing myself here now. Obviously newer S&R's have more value. There just seems to be a piece of the puzzle here I cannot put into place


Anster by a professional trader:
If I’m trading a 5min chart my s&r zones will have been constructed & plotted from my larger timeframe charts (4 or 1hr).

I don’t consider anything lower than a 60min chart reference when plotting s&r zones. In my view, the lower timeframes & their behaviour are nothing but market noise.

Those timeframes (5/15/30min) are utilized primarily (although not exclusively) for timing fresh entries/compound additions & exits in line with my analysis from the higher timeframe references.

I never bothered with faddy systems, fancy indicators or gimmicky, complicated methods jlmac - they're a complete waste of time & are nothing more than an annoying distraction in my view.

They merely serve to divert your focus & study away from that which you ought to be concentrating on. Familiarizing yourself with the behaviour of your chosen instruments & learning to observe the rhythm & heartbeat of the market thru studying the relative price action/activity.