Kong - Levels
Learn the basics of Kong Levels
Kong Levels is another great tool for making trading decisions visually in combination with our other indicators.
As you can see in the screenshot above, recent support levels are underlined with a Blue Bar, and recent resistance levels are labeled with a red bar above. Below we have an example of Kong Super Signals working in conjunction with levels to suggest a trade to take and where to set your stop losses and take profits.
The BUY signal came in shortly after hitting a recent support line, indicating support is good and the price movement should be upwards. The recent resistance line was hit, and bounced off suggesting the buy pressure still has support. Shortly after the resistance line was hit again, indicating that there is stong resistance which was followed by some sell pressure and the SELL indicator coming in. This indicates the support was good at the buy signal but as the price action approached resistance the selling pressure became too strong. Our indicator suggested to sell your position, which is a great outcome if you placed the following trade.
When this BUY signal was displayed we checked the last resistance level and placed a trade with a take profit slightly below the recent resistance. and a stop loss slightly above the last support. This allows us enough risk to make a highly profitable trade and also take minimal losses if there is a change in the price action.
As you can see, the price increased and hit our take profit, immediately received selling pressure at the resistance line. this allowed us to make a 4% profitable trade in the space of a couple of miniutes using the Levels indicators to suggest where to take our profit and also advise is where resistance levels are.
Last modified 4mo ago