support and resistance forex trading strategy pdf

the beginning of and upward movement. In this article you will learn how to calculate support and resistance, identify support and resistance trading zones, stock support and resistance approach to trading, along with forex trading support and resistance. Here, you can see that those weak candles were not able to breach the Resistance line and had long wicks and could not break that level. ( 12 votes, average:.25 out of 5) Loading.

This is why you want to think of these points as zones. Before we go any further, here are some important factors in determining a strong candle.

Before we explain the strategy we are going to define support and how can you get bitcoins for free resistance. The PPG Forex Trading Strategy. Will the price action break that level? They are more like zones that can be breached and pushed into. Resistance is the level where price finds it hard to break through to rise above it until it fails to and is pushed back down. Entry/Exit Criteria for this support and resistance trading strategy: Your entry should be slightly above or below the signal candle which is the strong candle. On the first case ( the candle on the left that we marked for you clearly, the price fell on the next candle which made it a valid reversal. We begin by drawing horizontal lines on recent Peaks and Bottoms like you see below in our chart example: Examine this chart as it is critical for you to understand these zones. Red zone strategy that shows you how to draw zones on your chart.

I am going to guide you every step of the way. Thats because support and resistance are not a given line. As we said, it is a Zone.