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    Registered user 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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    Quote Originally Posted by Yayami View Post
    can't explain how the benefits of support and resistance levels allow me to make a good trading because it's just natural habit for me to use them and see for possible reversal and continuation of market with few lines i created manually in my chart. i don't really take it as strong analysis or not because what make my trades become so accurate is my decision making. those analysis will always be analysis and i decide what to do as the traders. so the power of accuracy lies in my decision.
    Thats good actually we should all use SOR levels with natural habits because though we can think to trade without indicators but not without SOR levels. Support and resistance levels is crucial for conducting strong analysis in all kinds of trading from scaling to long term trading and even in news trading. But then the thing is that how a trader uses these levels and how he comes to some conclusions for his trading.

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    Registered user Silhouette's Avatar
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    Quote Originally Posted by MIGHTYRAMESH View Post
    Thats good actually we should all use SOR levels with natural habits because though we can think to trade without indicators but not without SOR levels. Support and resistance levels is crucial for conducting strong analysis in all kinds of trading from scaling to long term trading and even in news trading. But then the thing is that how a trader uses these levels and how he comes to some conclusions for his trading.
    Every strategies and traders who trade with technical analysis are using support and resistance levels for their main signal or secondary or even optional. Whatever purposes we have to trade with those levels, all of that are very helpful to increase our accuracy and get us more confirmation to guarantee our trading to hit take profits in bigger chance.

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    Quote Originally Posted by Silhouette View Post
    Every strategies and traders who trade with technical analysis are using support and resistance levels for their main signal or secondary or even optional. Whatever purposes we have to trade with those levels, all of that are very helpful to increase our accuracy and get us more confirmation to guarantee our trading to hit take profits in bigger chance.
    SOR is the heart of technical analysis and even news traders can use them for assistance besides their fundamental analysis and news reading. Support and resistance levels are useful for analysis but the know how is needed. Further if we have good patience we can use SOR levels in conjunction with some indicators or chart patterns to strike high probability trades.

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    the support and resistance levels is always be a crucial for price to continues the trend or make reversal and as trader we must to now how to find these levels and i think the best choice for trader to make a trade it is in this areas because levels support and resistance is the favorite of trader to make an order. and we can set SL in upper or lower of that levels.

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    Quote Originally Posted by letsdo View Post
    the support and resistance levels is always be a crucial for price to continues the trend or make reversal and as trader we must to now how to find these levels and i think the best choice for trader to make a trade it is in this areas because levels support and resistance is the favorite of trader to make an order. and we can set SL in upper or lower of that levels.
    sl and tp is important but it works fine when we have good knowledge about market, if we do not know about market and its direction how we can take right decision? so learn market and understand how it works, we can not survive if we do not have patience, if we do not have management and anything, so everyone have time to earn but mostly loses because they do not give importance to learning

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    Quote Originally Posted by naeem555 View Post
    sl and tp is important but it works fine when we have good knowledge about market, if we do not know about market and its direction how we can take right decision? so learn market and understand how it works, we can not survive if we do not have patience, if we do not have management and anything, so everyone have time to earn but mostly loses because they do not give importance to learning
    without good knowledge about market no way is good, if we are using sl or not if we are using tp or not but if we are good in market understanding our success rate automatically wil high, people loses because of wrong orders they do not know about market and loses so its their issue in market understanding but if we are good in market we can earn good pips, so make sure you have good knowledge and experience in market

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    support and resistance , no doubt that the are the most important tools which can help us in making good trading with good results , and they can be used as the main source for shaping and forming the most powerful indicators . all the indicators nearly get thier idea of the levels of support and resistance . you can notice this very easily .

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    Sincerely this is one of the profitable way of trading the market. This support and resistance level is good and important and will however give traders the possible advantage to follow trades at the right time. It's at this level that so many traders look forward to open a trade or position that will likely give them the chance to succeed. This is a method that will be always profitable and with only this system it's very possible to really become a successful trader.

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    support and resistance is like the important point where market reject the price more than twinc if it will be on top then it become resistance else it become support how ever the attachment you have posted in not support and resistance it is the correction mode where market do correct after one trend move.

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    Quote Originally Posted by Tonycee View Post
    Sincerely this is one of the profitable way of trading the market. This support and resistance level is good and important and will however give traders the possible advantage to follow trades at the right time. It's at this level that so many traders look forward to open a trade or position that will likely give them the chance to succeed. This is a method that will be always profitable and with only this system it's very possible to really become a successful trader.
    Technical traders have to lay a lot of importance on SOR levels since at this juncture a trend can gain steam or lose its steam. During news we should not rely much on SOR levels and further SOR levels on higher time frames carry more weight. Timeframes matter a lot because when one is looking at the M5 charts, he will find that those support and resistance levels will have little effect.

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