On 28th March, a badly placed RES 1 level and an unadjusted SUP 1 level resulted in some very poor trading – for example How 2pts on a SUP/RES levels makes a huge difference
So the question is, was this just what happens, or could some of the losses have been avoided by adjusting the way I set my levels?
It more normal to use a range of support or resistance rather than to be as precise as I am with setting my levels. After trying a range for acouple of days, it seemed that it just caused confusion and reflected my resstance to being wrong or taking losses.
Where there is a very strong confluence of levels, and especically if one of them is a strong, strong level, it makes sense to use a range, but for now my default is to use a single line and use the PA at the level to fine tune entries.
