Support and resistance price action creates areas or levels within markets that are referred to as support and resistance. Price will often respect these support and resistance levels in other words they tend to contain price movement until of course price breaks through them.
Regardless of the type of technical analysis methods used be it an indicator based trading system or a price action based trading system support and resistance levels plays a crucial role.
Forex price action support resistance. Support and resistance can provide key price reversal areas and are watched by many professional forex traders. After searching and testing a thousand of indicator and trading system i am came with a conclusion that one of the best indicator in forex is support and resistance. Support resistance systems are designed for sideways or directionless markets and.
There are two sides to a coin and the topic of forex support and resistance is no exception. There is no holly grail in forex. Forex price action support and resistance if youre looking to trade forex you must understand price action.
The reason is often very simple although its not as obvious at first glance. They typically have the following attributes. Bel! ow indicator is based on sr and fibonacci.
! Then there is the technical approach which is my preferred method of using forex support and resistance levels. They buy low and sell high in an attempt to take advantage of the sideways price. Support and resistance is probably the most popular price action concept but only very few traders can actually make money with it.
In the 3 day price action challenge i share my price action secrets so you can. Massive success as a digital nomad forex trader navin prithyani trader interview 102 duration. In the chart below we see an example of support and resistance levels containing price within a trading range.
There is the fundamental approach which we covered above using the concept of supply and demand. Etienne crete desire to trade 31071 views 4447. If youre searching for a holly grail then dont waste your time in my thread.
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