Identifying support and resistance levels for day trading [Video]
|Check out my video below on how to identify support & resistance and other key levels to prepare for day trading session.
How to draw support and resistance levels for day trading S&P 500 futures
I am using S&P 500 futures, ES, as examples to prepare for trading session on 16 & 17 Apr 2020 (Thurs, Fri).
Key levels I pay attention to:
- Previous day high.
- Previous day low.
- Non-Regular Trading Hours ( RTH ) high.
- Non-RTH low.
- Swing high from a few days ago.
- Swing low from a few days ago.
- Swing high/low formed during the trading timeframe ( M3 , M5).
Identifying support & resistance levels in day trading
The day trading process is very simple. Basically just to pay attention to how the price interacts with the key levels and trade on reversal or continuation.
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