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Thread: importence of Support and resistance level in forex

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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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    Having the support and resistance level on the chart will really help a great deal as a trader as one would be able to know where the market is headed to. It is important to have the support and resistance levels well known because the market reacts to it at all times, and it could hinder the possible profits we could make.

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    Rookie erox's Avatar
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    Quote Originally Posted by Khimi234 View Post
    What a great thread, thanks for making a thread like this, I am a big fan of support and resistance and trend following trading system, and both can be seen in this thread, the support and resistance trading analysis is very helpful in sideways market condition also but right now I am only working with the approach of trend following trading methods. It does not matter what kind of strategy and signals we have in forex, all should be combined with proper technical analysis.
    you are welcome dear i am also a big fan of support and resistence and trend following trading system becuase these levels are always give me the idia that where to enter and where to exit ,,i will add some more my strategies on these levels soon.

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    Trading forex has its major results as we all can think of it there is all these time we as traders must put together, they ,the support and ressistance, give you a certaine effot that is to bring you something real quick and it is the right idea that will point out where one expects a swing and there is some effort to put in some trades, on order form either buy limit or sell limit its actually bery effective

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    Quote Originally Posted by Kanyua View Post
    Trading forex has its major results as we all can think of it there is all these time we as traders must put together, they ,the support and ressistance, give you a certaine effot that is to bring you something real quick and it is the right idea that will point out where one expects a swing and there is some effort to put in some trades, on order form either buy limit or sell limit its actually bery effective
    if understand about support resistance, so traders will know the right timing to enter and exit from the market and also how to set the stop loss with well, and also to implement their strategies with pending orders or something else, one thing, need to manage the risk with well and also good emotion controlling

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    Understanding the support and resistance level will give you good means on how to think about this business so you could make better plans on the right time to buy or sell. There could be so many method to trade this resistance and support levels and as an experienced trader you could analyze your trade more better. Sometimes breakout occurs below and above this levels and it could signal a chance to enter a new trade.

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  7. #26
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    Hello, Having the support and resistance level on the chart will really help a great deal as a trader as one would be able to know where the market is headed to. It is important to have the support and resistance levels well known because the market reacts to it at all times, and it could hinder the possible profits we could make good luck

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  8. #27
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    Support and resistance is one of the most widely used concepts in forex trading. Strangely enough, everyone seems to have their own idea on how you should measure forex support and resistance.

    grade1-support-resistance-basics.png

    Look at the diagram above. As you can see, this zigzag pattern is making its way up (bull market). When the forex market moves up and then pulls back, the highest point reached before it pulled back is now resistance.

    As the market continues up again, the lowest point reached before it started back is now support. In this way, resistance and support are continually formed as the forex market oscillates over time. The reverse is true for the downtrend.

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  9. #28
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    The two are absolutly important for the movement of the right idea and passing of the same we have to work and be sure of a lot of things and believe in the same we have to work as hard and believe we are all dong the right thing , the market has its own posible proven direction that we work with the best being that we have the right market prospects and the use of support and resistance levels are good to make everything right

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  10. #29
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    The importance of trading support and resistnace is that it can give you some good money so look for it to put up orders the best in every effort we are always better working in some areas we are doing the right thing to trade forex we have to do the same when we trade forex and work hard for it

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    Support and resistance is very important for trade any pair. Many traders can not get this idea. without this idea any trader can not trade in Forex market. Trader can not make pending orders without support and resistance or can not set properly stop loss or take profit.

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