Support/Resistance Triples (6:37)
Quick little video today on Triples – when Support or Resistance line up on 3 different timeframes. You can use this for day trading or swing trading.
The most important timeframes to line up are the intermediate and highest timeframe. Then wait for the lowest timeframe to join in and you’ll get a low risk trade. Today we had 3 Triples and each was good for 4+ points.
If you’re a TradeStation user the Horizontal day trading Emini chart setup I use is as follows:
- 500 tick chart: Bar spacing = 2; Space to the right = 13 bars
- 1,500 tick chart: Bar spacing = 6; Space to the right = 5 bars
- 4,500 tick chart: Bar spacing = 18; Space to the right = 1 bars
You’ll find these settings under: Format > Window > General tab > Chart Properties.
Good luck with your Emini trading.