PIPS – percentage point

On all pairs 4th decimal point except yen pairs (2nd decimal
point)

USD/CAD goes from 1.2886 to 1.2896 – gain of 10 pips

USD/JPY goes from 105.73 to 105.76 – gain of 3 pips

Some major currencies-

USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD

**HIGHER TIME FRAME GIVES DEPICTION OF WHERE DYNAMIC S/R

THE MARKET IS HEADED (this is only used as guidance)
1 Swing high & lows
[Monthly, weekly, daily, 4 hrs.]
2 Multiple rejections of an area, the more the better

3 Has acted as both S/R

SUPPORT & RESISTANCE [key levels]
4 The move away from the area was significant

5 was recently respected

**The level should be obvious [eye catching]

Weekly timeframe is used to find key level [swing trade]

Daily timeframe is used to find key level [day trade]