Example: for a confirmed resistance breakout I use exclusively weekly charts and in this case I can appreciate a weekly candle closing above the line more seven weekly candles consolidating above the 48.00 level and a pullback in progress and a price testing the new support line, that months ago was resistance. This is pure price action without indicators.
Then I do a multiple time frame analysis searching for gaps and other details and I do this manually or discretionary.
I not use a mechanical system but I use moving averages like a visual help and interpret it in a discretionary way too.
Resistance breakout from weekly charts take time and patience.
Then I do a multiple time frame analysis searching for gaps and other details and I do this manually or discretionary.
I not use a mechanical system but I use moving averages like a visual help and interpret it in a discretionary way too.
Resistance breakout from weekly charts take time and patience.