PIP Assassins Monday Candles Support & Resistance
Rules Checklist
Before anything:
Check News for your pair.
Absolute Number 1* Use Monday Candles Support & Resistance rules below before proceeding
1. Find a fake Breakout (Head of the head and shoulder. A left shoulder should be always to the left)
2. Draw Fibs after you see retracement forming
3. Plot Support and resistance lines on 50% and 61.8%
4. Check past to see if these areas are strong support and resistance.
5. If Support & Resistance land on 50% or 61.8% on a Monday High or Low and on the left shoulder then go to step 6.
6. Determine Order Type based on direction
7. Place Limit order on your MT4 app
**How to use Monday Candles as Support & Resistance**
1. Check the Monday Highs and Lows
2. Wait for a candle to break and close outside of a Monday High or Low.
3. Set an alert for a the crossing of a candle at a Monday High or Low depending on the direction
of the market you want to see.
Look for imbalances in the market. its a missing right shoulder on a head and shoulder pattern
Before anything:
Check News for your pair.
Absolute Number 1* Use Monday Candles Support & Resistance rules below before proceeding
1. Find a fake Breakout (Head of the head and shoulder. A left shoulder should be always to the left)
2. Draw Fibs after you see retracement forming
3. Plot Support and resistance lines on 50% and 61.8%
4. Check past to see if these areas are strong support and resistance.
5. If Support & Resistance land on 50% or 61.8% on a Monday High or Low and on the left shoulder then go to step 6.
6. Determine Order Type based on direction
7. Place Limit order on your MT4 app
**How to use Monday Candles as Support & Resistance**
1. Check the Monday Highs and Lows
2. Wait for a candle to break and close outside of a Monday High or Low.
3. Set an alert for a the crossing of a candle at a Monday High or Low depending on the direction
of the market you want to see.
Look for imbalances in the market. its a missing right shoulder on a head and shoulder pattern
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