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Thread: importence of Support and resistance level in forex

  1. #411
    Trader Lyon's Avatar
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    Support and resistance levels are important aspect of trading. With the support and resistance levels on the market we get to know the happening in the market. It is the basic thing that all traders will be needing to know about the market even before thinking of starting with any strategy that will actually make them profits. Traders who are really serious to make money from forex trading has to know the concept of support and resistance.

  2. #412
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    in trading every key point is important if it can make us clear about market, so first of all you should have some good learning skills and already learned what level of trading you can have do here, support and resistant are good for understand where market will break or where it will come back so if you have good knowledge in this then you can make some good experience and money easily

  3. #413
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    The tells to one the behavior of the market, that way traders can make good trading decisions with it, one has to learn it and master it, due to it will tell on how the market moves. A trader that wants to earn money from the market needs to know the support and resistance levels has an important role to play, that way has to be fully learned.

  4. #414
    In the process of market analysis , the first thing I do is to determine the direction of the market ( trend determination) and having done that I will proceed to spot the support and resistance levels as shown by the candlestick patterns so , I will mark out those level like the chart below :

    sample.jpg
    This is live chart on gbpusd and as you can see it is on daily chart because I love to trade higher time frames because trade set ups are always reliable on this time frame . I have marked out the technical levels which I know may be good support or resistance level for price . This will help me to have a focus and determine the good place to enter or exit a trade . If you have not learned resistance and support level, you only put yourself at disadvantage in trading

  5. #415
    Buy and sell are two options in forex business, but if our entry point doesn't correct, then loss confirm for this reason we need good knowledge and technique to identify the entry point and exit point. Market support and resistance are give us the right information about the issues. We have to know how money support and resistance. Using long time frame for market support and resistance is the best way and there is a big chance to get a good profit from this business.

  6. #416
    Support and resistance are important areas on chart where price had previously had difficulty crossing. A support line is usually bellow market price while a resistance line is usually above market price. A Price break above a resistance line turns it to support and a price break below support turns it to resistance. support and resistance are regions in prices usually loaded with a lot of pending orders, hence market tends to be more volatile around them

  7. #417
    Quote Originally Posted by ict2014 View Post
    Buy and sell are two options in forex business, but if our entry point doesn't correct, then loss confirm for this reason we need good knowledge and technique to identify the entry point and exit point. Market support and resistance are give us the right information about the issues. We have to know how money support and resistance. Using long time frame for market support and resistance is the best way and there is a big chance to get a good profit from this business.
    It is a general fact that we have to wait and buy from support zone that is buying slower and then sell selling higher. That is from resistance, but before we get to know how this could be done, it will take so much time, discipline in learning and then consistent hard work. Support and resistance learning will have a lot to educate us on.

  8. #418
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    Quote Originally Posted by Obaforex View Post
    Support and resistance are important areas on chart where price had previously had difficulty crossing. A support line is usually bellow market price while a resistance line is usually above market price. A Price break above a resistance line turns it to support and a price break below support turns it to resistance. support and resistance are regions in prices usually loaded with a lot of pending orders, hence market tends to be more volatile around them
    They can not be over emphasized on, I have been in the market for some time now and I have seen the market alway reacting to the support and resistance areas, so I think it is more than important and I think it is something which all traders should actually make sure they take time to learn if they want to become a successful trader.

  9. #419
    We need to learn the maximum of each level and than we can determine make our plan to trades as buy or sell, or we can follow the trend and forex news, if today the level were in maximum position and when start at next day the level will move even the position keep stay in the last day position, its mean maybe the fluctuation will keep move the the same direction

  10. #420
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    Quote Originally Posted by oscar View Post
    We need to learn the maximum of each level and than we can determine make our plan to trades as buy or sell, or we can follow the trend and forex news, if today the level were in maximum position and when start at next day the level will move even the position keep stay in the last day position, its mean maybe the fluctuation will keep move the the same direction
    Those levels on the chart will be so much important to tell traders on the effects of events, those levels to some traders they don't wait for any signals, they just do simple buy or sell when price is on support and the sell when price is one resistance, it works, I have seen some traders that does their trades that way.

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