importence of Support and resistance level in forex
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  1. #1

    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 ...Screenshot_1.jpg

  2. #2
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    I have been able to learn about this, the support and resistance levels give insight of the movement of the market. One has got to learn the support and resistance levels and then know how to make use of it if they want to make money from forex trading market. Trading is much about learning and this is one of the basics every trader really needs to learn.

  3. #3
    Quote Originally Posted by sharegistFX View Post
    I have been able to learn about this, the support and resistance levels give insight of the movement of the market. One has got to learn the support and resistance levels and then know how to make use of it if they want to make money from forex trading market. Trading is much about learning and this is one of the basics every trader really needs to learn.
    I have done it and i am working on the support and resistance level because this is very good and i can take order on the right price. and then i can set then stop loss and take profit with my trades. so then i can reduce my risk level because the stop loss and take profit range is very good in the limit so no any problem faces.

  4. #4
    Quote Originally Posted by sharegistFX View Post
    I have been able to learn about this, the support and resistance levels give insight of the movement of the market. One has got to learn the support and resistance levels and then know how to make use of it if they want to make money from forex trading market. Trading is much about learning and this is one of the basics every trader really needs to learn.
    It is good if you are able to find support and resistance , most of trader fail to find the way through they make difference in trading , like in general we see market will move in zigzag format and at any level it see some forces which stop for further movement these level became support and resistance we must have a good approach to find these level for better results.

  5. #5
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    these are two levels that are very important for trading there is a lot of good issues that we look for the resistance level being that the right to it is well informed to show the greatest of every effort that we see when we trade the work of every trader is to really think how to use the two levels and that we can add it up with fibbonacci these helps a lot in sometimes puting in some in coming trading orders

  6. #6
    Quote Originally Posted by Irungu View Post
    these are two levels that are very important for trading there is a lot of good issues that we look for the resistance level being that the right to it is well informed to show the greatest of every effort that we see when we trade the work of every trader is to really think how to use the two levels and that we can add it up with fibbonacci these helps a lot in sometimes puting in some in coming trading orders
    in my opinion in this market its a most important thing cause every trader always used this with their trade but the problem is when you just depend on it,no doubt it is best tool ever who use every trader like professional or newbie and medium trader but every one has a different style you just take care of it when you use in single time frame.

  7. #7
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    we can indicate support resistance with a simple thing, then we can see that support resistance is dynamic, the levels will not stay on the same place, then we need to combine it with the true trend, so we can use higher time frames to indicate both of them, draw the simple line will help us to see them easily

  8. #8
    It gives traders insight of how the market would work, therefore to know the movement of the market, we have got to make sure that we make use of a good analysis method and then get to see the support and resistance levels, the levels are important and when the price gets there, it usually do have a reaction or it will reverse.

  9. #9
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    There is no denying the fact that support and resistance levels play a very important role in telling you where the chances of market reversal lie. And with certain strategies you may combine the support and resistance levels with Fibonacci and candlesticks and the signal will become really powerful to give you a good chance. But at the same time it should also be noted that the support and resistance levels are not exact levels but they are zones or regions.

  10. #10
    Quote Originally Posted by ravian View Post
    There is no denying the fact that support and resistance levels play a very important role in telling you where the chances of market reversal lie. And with certain strategies you may combine the support and resistance levels with Fibonacci and candlesticks and the signal will become really powerful to give you a good chance. But at the same time it should also be noted that the support and resistance levels are not exact levels but they are zones or regions.
    That is why we must always put both stop loss and take profit to ensure and lock our trades with managed risk and proper amount of profits. Any support and resistance will not guarantee much of winning because sometime market continue its trend even if it failed to break those areas. That would be dangerous for us if we did not set stop loss because market would drag us with increasing negatives more and more.

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