This is one of the Simplest methods I’ve seen. You identify a trend (Slope) and then identify whether there is consistent Support and resistance using that Slope.
Identify whether there is changes within the trend i.e strengthening or weakening within the trend and if so look for a slope in the other direction.
This is the important part to understand.
If we have an established uptrending Slope what makes me look for a down trending slope is a change of context in the uptrend. Either a blow of top or a lowered ceiling for example.
Validated Slope
Slopes should be validated before we start paying attention to them. We can see this by Price respecting the line on several occasions. Also when the line changes from Support to resistance this is strong confirmation.
Trade Entry
When we have a change for instance Price hitting resistance on the 240 min chart in the Euro. I Look both Intra Vehicle and Inter vehicle for confirmation and entry Ideas. Intra vehicle would be dropping to a lower timeframe and looking for an entry there. Inter timeframe would be looking at a correlated instrument for an entry idea.
An Intra instrument example is Crude. On the Daily and 240 we have Bullish Context and the 60 has pushed through resistance which we expected to become Support. It held perfectly on the 1 min chart and then initiated away from the area giving is the opportunity for a C1/C2 on the Dom as below.
This is using Multiple timeframes to gain an understanding of what the market is doing in that moment.
Daily up slope been in existence since January this year.
