- Draw lines indicating areas of support and resistance.
- Then buy on close above resistance with SL below support. And vice versa.
- You can also target for double bottom buy / double top sell
- Works in any time frame - 5 min, hourly, daily, weekly.
- Risk management takes care of losses - profits are whatever the markets give.
- Finally, everything boils down to probability.
So simple... no indicators, wave counts etc.
I don't know why people like to complicate things and use charts like this.
Put differently, if you are spending more than 1 minute to analyse a chart then something is wrong with your methodology.
More analysis never leads to better results.