Ansoku Kuro

Photo by Austin Distel on Unsplash

As a part-time day trader, it’s too easy to drown in technical indicators. Open TradingView and you’ll find hundreds of indicators and strategies, each promising wins. You can cover your charts in RSI, MACD, Bollinger Bands, moving averages, Ichimoku clouds, ATR, Stochastics — the list is endless. When I started, I did exactly this: I filled my screens, convinced that more data meant more certainty. Paid for premium to get even more on there.

Then I saw something that changed everything.

Bloomberg did a piece at Citadel and you got a two second glimpse of a day traders screen. All I saw were lines all over the charts. Support and resistance lines. That’s all.

I stripped it all back to basics. Now, almost every trade I take is based on one thing: support and resistance. And the more experienced I become, the more I believe that this simple approach is not only more effective, but also more consistent.

Let me break down it down for you.

The Illusion of Certainty

Most technical indicators are derivatives of price. They lag. The RSI, for example, simply measures the magnitude of recent price changes; MACD is a difference of moving…

Source link