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Thread: importence of Support and resistance level in forex

  1. #1
    Trader erox's Avatar
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    Unhappy importence of Support and resistance level in forex

    in forex support and resistence level are very importent and in most of time markit respect them we can adjust our take profit and stop loss around these levels effectively .

    a) SUPPORTS:
    in down trend where markits stop falling and try to bounce back until breakout of that level if it breaks and then it continue for another level .

    b) RESISTENCE:
    resistence lavel in up trend where markit stop going up and try to bounce back until breakout of that level if it breaks then it continue for next level .

    i think these levels are very importent for modifiying stop loss and take profit becuase the markit most of time touch thses levels and we can set our take profit and stop loss around these levels it can help us we can easily Identify these levels by using trend lines or with suuport and resistence indicator i am using it .

    (EXAMPLE)

    here is a great example of support and resistence levels ...Attachment 15192

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  2. #11
    Trader cutiekc's Avatar
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    Support and resistance is important that we ought to know it, no matter the trading strategy we are making use of, it is much important that we get to know how the support and resistance works and how it could possibly affect any trades we are taking. Furthermore, the business is a gradual process and we need to learn it adequately.

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  3. #12
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    support and resistance level are well based in that a trade can move with no hindrance and canbe really well formulated in certain levels of a traders life we as traders must know how to draw the lines because they make it easy for us to really put the right side of forex for the right ideas we as traders are able to form certain channls that levels out

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  4. #13
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    No matter what a trader can be doing in the forex business, they will always get to know the importance of the support and resistance. These are the most powerful points that the market will always respect, and the trader using them will have to note a successful breakout before the market will move a definitive way.

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  5. #14
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    [lang=id]
    Quote Originally Posted by Sylvertee View Post
    No matter what a trader can be doing in the forex business, they will always get to know the importance of the support and resistance. These are the most powerful points that the market will always respect, and the trader using them will have to note a successful breakout before the market will move a definitive way.
    I believe that no matter how good a trader in this business, it will be important for them to learn more about support and resistance. In case that they lack the money in here, maybe they can try to get better understanding by investing themselves in their own powerful part. A success trader will always try to find a lot of way to earn first and make money.[/lang]

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  6. #15
    Trader layigold's Avatar
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    It is important you understand the concept of support and resistance levels and how they play out in trading.It is your duty as a forex trader to determine the support and resistance levels and watch how price reacts to those levels.You cannot do without having the knowledge of support and resistance level in forex trading and expect to be successful in the long run. I will advise those having shallow knowledge of this to seek more knowledge through learning and practice

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  7. #16
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    Quote Originally Posted by layigold View Post
    It is important you understand the concept of support and resistance levels and how they play out in trading.It is your duty as a forex trader to determine the support and resistance levels and watch how price reacts to those levels.You cannot do without having the knowledge of support and resistance level in forex trading and expect to be successful in the long run. I will advise those having shallow knowledge of this to seek more knowledge through learning and practice
    I believe that it is very important for traders to understand where the critical price will be. And then we need to try out and test a lot of things as a forex traders too and check which one is credible. Support and resistance will be credible as long there are no major news suddenly happen in the box. If there are some news, it will not be useful anymore.

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  8. #17
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    Quote Originally Posted by sekiryutei View Post
    I believe that it is very important for traders to understand where the critical price will be. And then we need to try out and test a lot of things as a forex traders too and check which one is credible. Support and resistance will be credible as long there are no major news suddenly happen in the box. If there are some news, it will not be useful anymore.
    I think that understanding about the market is very important indeed but we need to understand very well how possible we can keep making great money too in here. Testing a lot of things are good but we need to know which one will bring bad effect later and we need to know our own limitations as well in here without any doubt. Trading news is hardly understandable though.

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  9. #18
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    The importance is that it could be used in getting to know the level of the market and the possible direction of the market, therefore it is important to understand the movement of the market, due to when understood, there is more possibility of making more money that we loss. That is what I have been able to understand about forex trading.

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  10. #19
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    [lang=id]
    Quote Originally Posted by sharegistFX View Post
    The importance is that it could be used in getting to know the level of the market and the possible direction of the market, therefore it is important to understand the movement of the market, due to when understood, there is more possibility of making more money that we loss. That is what I have been able to understand about forex trading.
    i think that the most important thing in here is to understand what are the market possible result direction after a certain thing happened. We need to analyze the market properly first in order to make that happen without a doubt. Traders that fail to know a certain possible thing about this to happen will face a lot of hard time in making analysis.[/lang]

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  11. #20
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    Quote Originally Posted by Vicko View Post
    i think that the most important thing in here is to understand what are the market possible result direction after a certain thing happened. We need to analyze the market properly first in order to make that happen without a doubt. Traders that fail to know a certain possible thing about this to happen will face a lot of hard time in making analysis.
    I believe that there are a lot of important things in this business that will need to be understood as well and it will be only possible for us to earn good profit if we can properly face the market and make money with it. Making a lot of analysis is not easy at all and sometimes we might face difficulties all along the way too.

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