If you want to find better trades, it is very important that you know how to identify the most important price levels on your charts.
In order to improve the quality of your trades, making sure that you only trade at and around high impact price levels may significantly help trade selection.
In the first step, a trader would identify the best price levels and mark them all down. Here, a top-down approach may also be utilized and a trader starts the level analysis on the higher timeframes, such as the Daily.
Afterwards, the trader waits for the price to reach the marked levels and evaluates whether trading opportunities around the key levels emerge. Not always will occur a trading setup at each price level but using the price levels as a filter may improve trade quality significantly.
In this video, I provide 7 tips and tools on how to identify the best price levels on any chart.
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