I am new to trading, using support and resistance(price action) as my trading strategy. I am not confident, when to enter a trade.
Today i gave a thought to entering a trade only when price reaches a key support, resistance level and not anywhere else. Keeping stop loss above or below, depends whether its a supp or resistance.
Best Strategy to Trade with Support & Resistance points are Enter Long when Resistance Broken and Enter Short when Support Broken. Maintain a Stop loss as per your risk capacity. Because sometimes Price give false breakouts and Move back.