Support and resistance levels are important part of Forex trading. But, how to find strong support and resistance levels? What is the trick behind? Adrian Filip will share his tips
Support and Resistance are some of the most common TA tools that most traders ignore because it seems too simple to work. Well, then they end up blowing up their entire accounts! In short, you can not trade if you dont understand the logic behind support and resistance!
What is the trick behind Support and Resistance?
Finding support and resistance is indeed easy. The secret is in your charting style, you should keep your charts clean and trade based on healthy market principles.
If you put effort to understand these two Forex Terms you will understand that Supports and resistances are TA concepts that are the outcome of two of the most important market fundamentals:
- Supply or Offer
Indeed there are multiple winning Forex strategies which are based on these levels. Such as Magic Forex Strategy which is based on session oriented support and demand zones. Not only these levels help you to enter depending on your vision you can also use these levels to exit positions or avoid entering a position or reduce risk on your position.
In short, if you know how to spot the relevant support and resistances on a chart at a certain moment, you will definitely be closer to a winning strategy. Register for the "how to find strong support and resistance levels" webinarÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â and learn how to always be one step ahead of the crowd from a real Forex trader!