Hello!
I am wondering what do you all use as the key resistance and support for daytrading. Particularly to estimate the daily range based on previous days.
For trading I have 3 day 1 minute candle chart open with the most basic 3 line VWAP. However, I feel the need for a bigger picture in order not to get stuck with overpriced stock/selling for large loss, if I am not fast enough to cut the loss according to my rules.
I mean do you use a VWAP on a daily chart with 3/5/.../30 (?) days, something else, or nothing and just consider each day sepparately? On what do you base your desicion on that matter? I would appreciate an exact setup of the long term levels analysis, if anyone is willing to share theirs!