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Thread: Support and resistance levels

  1. #1
    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.

  2. #21
    Rookie martyn's Avatar
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    Support and resistance is often used for entry and exit points of the forex market. because this point is indeed a point with the most potential to be utilized in obtaining profits. It's just that we also often find difficulty in determining the point of support and resistance, as the market is also often made breakout and divergence, especially when the market is not making a pattern or characteristic which indicates that the market will reverse direction immediately.

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  3. #22
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    Quote Originally Posted by shahzad0able View Post
    I love to do trading on support and resistance levels. It is in fact the base of successful currency trading. You cannot escape from losses if you eliminate the use of support and resistance from your trading strategy. It is a must to have in each and every trading strategy of yours.
    I agree with you too so I'm trying to focus largely on the trading support and resistance on Frame 4 hours because he is one of the best decals that can be traded and rely on technical analysis them and be targets of support and resistance are large and can be up to 100 points

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  4. #23
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    Support and resistance is the basic rules about to make money from market movement. As forex trader we must know about this technique because it already the effectiveness is already proven by a lot of forex traders. The simplest strategy based on support and resistance is by putting pending order near the support and resistance level so we can get profit once market break the support or resistance.

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  5. #24
    Rookie mohabbat's Avatar
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    Yes brother .I see maximum trader follow this technique .and I think it is very good strategy for a trader . so we can start our position by following it . that means when market come to support then we should to start any buy /long position .and when market going to resistance then we should to start any short /sell position .and it is normal calculation .

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  6. #25
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    Support and resistance is very important for our trade. I follow this level for my long trade. I am a long trader. So I follow the RSI range from D1 time frame for my long trade. It is very profitable for me.

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  7. #26
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    Yes, they are really useful and personally, even "i" as a fundamental trader still use this one to trade as the right entry time and the right time to get out of the market because i can use that as a target to stop the possible loss and take the profit i want to get from here as well. But one will need to draw the line manually and differentiate the bullish candle or the bearish candle first for this. It's pretty easy so i think all will have the knowledge to do it.

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  8. #27
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    Sometimes I see is a false break, and this is dangerous for novice friends and seniors who may not know about the break out, and sometimes it's a little deceiving when the body can not break through support and resistance, and sometimes a few traders in the trading loss when their entry on inconvenient time

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  9. #28
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    Technical analysis helps us to know the support and resistance for a particular currency pair. A trader should first read the charts and then he will know about these levels which he can use in trading to make money. Knowing the support and resistance is very important for a trader and can help him to earn profits and avoid losses

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  10. #29
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    Quote Originally Posted by forexfighter007 View Post
    Technical analysis helps us to know the support and resistance for a particular currency pair. A trader should first read the charts and then he will know about these levels which he can use in trading to make money. Knowing the support and resistance is very important for a trader and can help him to earn profits and avoid losses
    Technical analysis helps a trader to read the charts and use the indicators. A trader should know the resistance and support points well in order to make a good trading plan.Technical analysis without fundamental analysis often turns wrong so a trader should have knowledge of both these analysis to succeed in Forex trading.

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  11. #30
    Registered user alv_trader's Avatar
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    Support and resistance levels is a specific price level that price action in a currency pair hasn’t gone below in the historical period being used. Support and resistance also acts as a technical tool for traders to identify significant moves within the time period they are trading. The idea is that the support line supports (hold up) the price of the currency pair, while the resistance line resists (holds down) all attempts of the currency pairs to go above it. It's usefull when you are likely to use pending order in the support and resistance area instead of instan execution.

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