Lesson 16.18 - What are Levels to The Left

There are 2 types of S/R Levels that are useful to use for Day Trading the Indices

Number 1: Intraday support and resistance levels 

Number 2: Swing Support and Resistance levels 

First Type of Levels: Intraday Levels

There are 3 types of intraday levels to consider. 

For Intraday S/R we will use the following parameters to identify those levels. 

1. The London and Frankfurt Open Price serves as intra-day Support and Resistance.
   Draw a Line at The London and Frankfurt and New York Equities Open Price Horizontal Line should run for the Day only. An Option for a vertical line showing Open time is also required. By default set to false. 

2. The highs and lows of the range of the immediate previous session also serve as good intra-day support resistance. The highs and lows of the range of Each of the 3 sessions should be marked with horizontal lines. The lines should terminate at the end of date. 

3. Mark the high and low of the  Frankfurt open first hour with a box-like so…
   These lines should terminate at the Start of New York Session.
   
   

4. Mark the Highs and Lows of the Overnight Session. This starts from NewYork Close or the midnight line (22.00 or 00 of Pepperstone) These lines should terminate at the end of the Date
   

Second Type of Levels: Swing Levels of M5 or Hourly Chart

There are 3 Types of Swing Levels we need to Consider 

1. The High and Low of the 5 Days 

2. The High and Low of the Week

3. Highs and Lows of Yesterdays Session highs and Lows. (Most Important)

And tha’t# it.