R - Stands for Resistance 1, Resistance 2, Resistance 3
S - Stands for Support 1, Support 2, Support 3
P - Stands for Pivot Point
One resistance level may be tomorrow's support.
An easy way while initially learning is from analysts reports.
I prefer to use pivot points based off TF's I anticipate tying up buying power in the trade.
I.e.
I5m-1hr Intraday
Daily TF 1-4 days
Weekly TF 4-14 days
If you are not using pivot points, they are very easy to use on TradingView and will help have more success when selecting entries, stops, and targets.
S - Stands for Support 1, Support 2, Support 3
P - Stands for Pivot Point
One resistance level may be tomorrow's support.
An easy way while initially learning is from analysts reports.
I prefer to use pivot points based off TF's I anticipate tying up buying power in the trade.
I.e.
I5m-1hr Intraday
Daily TF 1-4 days
Weekly TF 4-14 days
If you are not using pivot points, they are very easy to use on TradingView and will help have more success when selecting entries, stops, and targets.
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