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ONE-PAGE PRACTICE CARD

Support and resistance rejection

Worked example: first rejection at a prior-day extreme. Freeze these rules before replay, then record every eligible signal—including the ones you skip.

CHART
H1
CLOCK
UTC; prior day means 00:00–23:59 UTC
DECISION
Completed candles only
Practise nine chart casesTry it with simulator guidanceReturn to the full strategy guide
01 / EXACT SETUP

Build the same chart

Market scope

  • EUR/USD, GBP/USD and USD/JPY H1 UTC charts; prior day boundaries use completed 00:00–23:59 UTC days.
  • Only the first test of either prior-day high or low is eligible.
  • Longs use the prior-day low; shorts use the prior-day high.

Settings

  • Plot the immediately preceding UTC day's high and low and freeze them for the current day.
  • Add Wilder ATR(14). Define the level zone as ±0.10 × ATR around the fixed price.
  • A rejection candle must trade beyond the level but close back through it, with at least 60% of its range on the returned side.
02 / BEFORE A SIGNAL

Check eligibility first

  • The level predates the current day and has not been touched earlier in the current UTC day.
  • The rejection candle range is no more than 1.5 × ATR(14), and the next opposing prior-day extreme offers at least 2R of room.
  • No high-impact event for either currency occurs within 60 minutes of planned entry and displayed spread is at or below 1.5 pips.
03 / TRIGGERS

Wait for the close

LONG

On the first current-day test of the prior-day low, price trades below the level then closes back above it, with at least 60% of the candle range above the level and total range no more than 1.5 × ATR(14). Enter at the next H1 open.

SHORT

On the first current-day test of the prior-day high, price trades above the level then closes back below it, with at least 60% of the candle range below the level and total range no more than 1.5 × ATR(14). Enter at the next H1 open.

04 / RISK

Stop and invalidation

Place stop 0.20 × ATR beyond the rejection candle extreme. Risk 0.50% of equity and round down to 0.01 lot.

Never widen the stop to keep a losing idea alive. Recalculate size from the actual entry-to-stop distance before entry.

05 / STAY OUT

No-trade filters

  • The level was not frozen before the day began or this is not its first current-day test.
  • The rejection candle exceeds 1.5 × ATR or the opposing prior-day extreme offers less than 2R of room.
  • A high-impact event is within 60 minutes or displayed spread is above 1.5 pips.
  • Price closes outside the ±0.10 ATR level zone before entry, a second touch occurs, or the next-open gap exceeds 0.25 ATR.
06 / MANAGEMENT

Choose before entry

This card's fixed method

Take profit at 2R. Exit after 12 completed H1 bars if neither stop nor target trades.

Test separately—never mix mid-trade

  • Separate variant only: prior-week extremes.
  • Separate variant only: break of the rejection-bar high/low instead of next-open entry.
  • Separate variant only: engulfing close as the trigger.
07 / PLATFORM

Match the setup

MT4

Open a H1 chart and add Previous-day level, ATR(14) from Insert or Navigator with the exact inputs above. Draw required price levels before the reaction and check external filters separately. MT4 and MT5 candles use broker-server time, so verify that their H1 bar boundaries match this card's UTC; prior day means 00:00–23:59 UTC candles before comparing results.

MT5

Open a H1 chart and add Previous-day level, ATR(14) from Insert > Indicators or Navigator. Match applied price and Wilder periods, then make decisions from completed candles only. MT4 and MT5 candles use broker-server time, so verify that their H1 bar boundaries match this card's UTC; prior day means 00:00–23:59 UTC candles before comparing results.

TRADINGVIEW

Set the chart to H1, add Previous-day level, ATR(14), and match the feed and inputs. Display UTC; prior day means 00:00–23:59 UTC and confirm that the selected feed uses the same H1 bar boundaries. In Bar Replay, write the decision before advancing.

08 / FINAL CHECK

Before placing a demo trade

Frozen replay costs

Use a constant 1.0-pip spread and 0.1-pip adverse slippage per fill; zero commission and no rollover because the canonical exit is limited to 12 hours.

Practice template only—not a live trade signal or proof the method works. Test plenty of charts, including signals you skip.

Guided practice: https://wickatlas.com/tools/forex-trading-simulator?strategy=support-resistance-rejection&coach=1&preset=pre-marked-level-rejection#guided-replay