Statistical Range and Daily Range - MaePla Pakkakeaw
Support & Resistance Box (MaePla Pakkakeaw)
Daily Range
(Start the Day on H4 Timeframe)
- Major support and resistance levels are drawn approximately 500 points apart.
- These are called Statistical Lines.
- Statistical support and resistance levels are drawn at price levels ending in 0 and 5.
Daily Range
(Start the Day on H4 Timeframe)
- At 7:00 AM, check the H4 candle close.
- Identify the price level closest to a statistical line as the minor support or resistance.
- The next statistical line 500 points above becomes the upper price range.
- The next statistical line 500 points below becomes the lower price range.
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