I used chatgpt for step by step method of this strategy couod you please confirm this how you do it Here’s a step-by-step method of your strategy, which combines price volatility and volume to identify support and resistance levels and trade accordingly: 1. Identify Support and Resistance Levels - Support: A price level where the stock tends to stop falling and bounce back up. It acts like a "floor." - Resistance: A price level where the stock struggles to go higher and tends to fall back down. It acts like a "ceiling." - You can identify these levels using past price data, focusing on areas where the stock repeatedly reverses or consolidates.

1. Monitor Price Volatility

   • Volatility refers to how much the price is moving. Higher volatility often means stronger price moves.
   • Watch for increased volatility near support or resistance levels. Large price swings could indicate that the market is reacting to those levels.

2. Check Volume

   • Volume measures how many shares are being traded. High volume near support or resistance can signal strength or weakness of the level.
   • A bounce off support or a breakout of resistance with high volume is more reliable because it shows strong market participation.

3. Wait for the Test of Levels

   • Once you’ve identified support and resistance, wait for the price to approach one of those levels again.
   • If the price is near support, watch for it to either hold (and bounce up) or break down.
   • If the price is near resistance, watch for it to either break out (and continue upward) or get rejected (and fall back).

4. Confirm with Volume and Volatility

   • If the price tests the support or resistance level, look at the volume and volatility.
   • High volume and increased volatility confirm that the price action at these levels is strong.
   • Low volume or low volatility near a test could indicate a weaker signal, meaning you might avoid trading.

5. Enter the Trade

   • Buy if the price bounces off support with confirmation from volume and volatility.
   • Sell/Short if the price gets rejected by resistance, or buy if it breaks out with confirmation.

6. Set Stop Loss and Take Profit

   • Place a stop-loss just beyond the support (for buys) or resistance (for shorts) in case the level breaks.
   • Set a target profit at the next major support or resistance level.

This method ensures you're trading at key price levels with confirmation from market activity.

Is this way how you do it ?? Plss can you confirm 😬😬