Support and Resistance (S&R) Trading
Support and resistance levels can signal where the price is headed, letting position traders know whether to open or close a position.
A support level is a price level that, historically, does not fall below. These “historical” support levels can hold for years.
A resistance level is a price level that, historically, tends not to be able to break. These “historical” resistance levels can also hold for years.
If position traders expect a long term resistance hold, they can close out their positions before unrealized profits stars melting away.
They may also enter long positions at historical support levels if they expect a long term trend to hold and continue upward at this point.
This strategy requires that traders to analyze chart patterns. When analyzing the chart, position traders consider three factors when trying to identify support and resistance levels.
- The historic price is the most reliable source when identifying support and resistance. During periods of significant up or down in a market, recurring support and resistance levels are easy to spot.
- Previous support and resistance levels can indicate future levels. It is not unusual for a resistance level to become a future support level once it has been broken.
- Technical indicators like moving averages and Fibonacci retracement provide dynamic support and resistance levels that move as the price moves.
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Thread: Simple strategy for Beginners
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31-07-2020, 02:23 PM #1
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Simple strategy for Beginners
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31-07-2020, 08:21 PM #2
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Forex is one of the most popular online earning market in the world. If anyone has some unique techniques he can earn a lot money through forex. But earning from the forex is not so easy. A trader needs to have a lot knowledge about forex market. Without proper knowledge, trader can loss all his investment. To earn from the forex surely, there are so many brokers in the market who can assist the trader.
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02-08-2020, 08:36 AM #3
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If you are trying to start your trading career, you should learn first. After learning you can invest into this risky platform. Before start trading you need to make a simple plan. A complicated plan can put your investment into a danger. A reliable broker like Forex4you can help you to make simple plan to make profit from this market. It can give you proper guidelines to make money from the forex market. Without planning you can not survive in this risky market. So, make a simple plan before enter into this platform.
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04-08-2020, 10:33 AM #4
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very true, in forex is not an easy matter, so it is important for traders to be able to take advantage of demo accounts and educational programs provided by Tickmill to be able to improve existing trading skills properly.
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