chartist also uses pivot points and S/R in his trading, price reacts at R/S levels and that is the point where price is the easiest to interpret, anywhere in-between is much more difficult, where talking day trading here. when i trade i look for confluence, if 2 or more signals line up then im in, example price comes to a support level and forms a hammer and STC is oversold , for me thats a signal to go long, keeping in mind where the higher time frame S/R levels are. For day trading forex i use signals on the 15m charts. So in the example above you have 3 signal, oversold, support, and the price signal in the form of a hammer.
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