To find the true structured support and resistance levels in a market, we use a contraction of price and a wash of that contraction. You can see these true levels on this 20 minute E-Mini S&P chart I posted for our members. In the video, I describe the steps to the process of a wash and rinse structure as a pivot component of a swing and how that can help us to read the true supply/demand levels.
I show two trades in this video, one by me in the USD/CAD 20 minute and one by a student in the E-mini S&P 2 minute. Both look a bit different but have the same understanding that comes from learning about the process of market structure and the essence of each structure. Sustained trading is not about pattern recognition, its a personal understanding of the whole read and structure that develops from practice. In the video, I show how you can see the structure no matter what time frame it shows up in or its shape. You can see this same structure and understanding in a post I did a year ago, “Trading The Valley In The CAD”.