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Thread: Support and resistance levels

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    Super Moderator Gulfstream's Avatar
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    Support and resistance levels

    Support and resistance levels are one of the most common concepts in trading. Oddly enough, there are plenty of exercises how to build these levels.

    At first, let's look at the basics.




    Look at the diagram above. As can be seen this zigzag moves up (bull market). When the market moves up and then pulls back, the highest point reached before the rollback becomes the resistance.

    As the market continues to move up, the lowest point reached before the reversal becomes a support level. Thus the support and resistance levels are being formed during the movement of the market and its kickbacks. All of the above mentioned is true for downward movement, but in mirror image.

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    Last edited by Gulfstream; 02-14-2013 at 07:14 PM.

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    Rookie layigold's Avatar
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    In technical analysis of financial market of any type ( stock or forex market ), support and resistance are certain predetermined level of a the price of an instrument at which is thought that the price will tend to stop and reverse These critical levels are determined by multiple touches of price without a breakthrough of the levels. If you look at the chart below, ot will explain to you in a very clearer term , the concept of resistance and support in forex trading .


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  3. #2662
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    Quote Originally Posted by layigold View Post
    In technical analysis of financial market of any type ( stock or forex market ), support and resistance are certain predetermined level of a the price of an instrument
    on forum member knows here i have done good trade when i used support and resistance, so its good but i lost all because of wrong management because i not used stop loss so if you want to use this its good you can get success from it but make sure you have done sl in trading, if you have sl it will make sure you will not lose more then limit, otherwise you can lose easily big without sl

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  4. #2663
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    Support and resistance trading method are very effective and useful way for daily basic trading on market. So already taken good knowledge and experience about it well are very important for trader after it you can make simple or strong trend line and other any type of strategy for trading to everyday getting success on forex trading business.

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  5. #2664
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    Quote Originally Posted by biru View Post
    Support and resistance trading method are very effective and useful way for daily basic trading on market. So already taken good knowledge and experience about it well are very important for trader after it you can make simple or strong trend line and other any type of strategy for trading to everyday getting success on forex trading business.
    yes its important we can work hard for this, actually support and resistance works but the confusion of reversal and breakout can make issues so i think if we can handle these its good, but the issue is how to get these points, so i recommend to use some trend line for this, if we work with this we can really make good points for support and resistance otherwise we can make bad orders with this also, in short this is best way of analysis no doubt

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  6. #2665
    Rookie Azis Muslim's Avatar
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    Quote Originally Posted by naeem555 View Post
    yes its important we can work hard for this, actually support and resistance works but the confusion of reversal and breakout can make issues so i think if we can handle these its good, but the issue is how to get these points, so i recommend to use some trend line for this, if we work with this we can really make good points for support and resistance otherwise we can make bad orders with this also, in short this is best way of analysis no doubt
    Taking our times to trade with support and resistance must be easy to do because those levels can be seen through direct observation during our analysis. I guess there is no obstacle using this strategy to trade and help us to get more confirmations with our different strategies. Applying higher time frames will provide us better accuracy for support resistance levels and it is important for long term trading. Additionally, medium time frames can help traders to spot the signals for short term trading.

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  7. #2666
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    Quote Originally Posted by Azis Muslim View Post
    Taking our times to trade with support and resistance must be easy to do because those levels can be seen through direct observation during our analysis. I guess there is no obstacle using this strategy to trade and help us to get more confirmations with our different strategies. Applying higher time frames will provide us better accuracy for support resistance levels and it is important for long term trading. Additionally, medium time frames can help traders to spot the signals for short term trading.
    Support and resistance levels can be easily observed by way of the charts but the level of interpretation that we draw and how we utilize it in trading matters. Support and resistance levels are points where reversals can happen and also the trend can gain here more strength to continue its way. The market is invincible and so no level is strong enough to remain unbroken for ever, we need to increase our analytical skills of these levels to achieve good level of accuracy in trading.

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  8. #2667
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    support and resistance levels can be one of the most successful ways which can be represented in the trading it self , so the fact of technical analyses can be the best of all , they can help in translating the fact of the history repeats its elf in many points , and i think by having effective manner for the real trading this will help in avoiding the mistakes in the wrong entry points .

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    Rookie Sascha's Avatar
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    Quote Originally Posted by Abu George View Post
    support and resistance levels can be one of the most successful ways which can be represented in the trading it self , so the fact of technical analyses can be the best of all , they can help in translating the fact of the history repeats its elf in many points , and i think by having effective manner for the real trading this will help in avoiding the mistakes in the wrong entry points .
    although it's useful for most traders, to me it's only give slight advantages as my last confirmation when i want to trade for technical reasons. i do mark important levels in market i think it's possible for me to take for a trade. support and resistance levels plays different role for my strategy and at the same time i can't ignore its benefits for my trading.

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  10. #2669
    Rookie Toyen's Avatar
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    Quote Originally Posted by Abu George View Post
    support and resistance levels can be one of the most successful ways which can be represented in the trading it self , so the fact of technical analyses can be the best of all , they can help in translating the fact of the history repeats its elf in many points , and i think by having effective manner for the real trading this will help in avoiding the mistakes in the wrong entry points .
    I love to trade the support and resistance levels, and i don't mind what gives the support and resistance levels, as long as they are valid and working, i will always likewise to work with them. I am now trading the trendline as my own support and resistance levels, and they are very reliable and strong, especially when i analyse them on the larger time frame. That makes me to focus on the 4 hour chart for their analysis now.

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  11. #2670
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    Quote Originally Posted by Toyen View Post
    I love to trade the support and resistance levels, and i don't mind what gives the support and resistance levels, as long as they are valid and working, i will always likewise to work with them. I am now trading the trendline as my own support and resistance levels, and they are very reliable and strong, especially when i analyse them on the larger time frame. That makes me to focus on the 4 hour chart for their analysis now.
    SOR levels literally are used by a majority of traders as a prominent tool of analysis but those more competent are the ones who conclude with profits. In any market condition there are a set of people who win and a set who lose, so a major part of our success deends on the analytical skills. Supports and resistance levels are important but what counts here is the level of our understanding and the way we adopt it for our trading.

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