We can easily understand from this explanation that a support price level is the best buy price level because, at these price levels, many traders are willing to buy i. If you just take a logical approach to drawing in your support and resistance levels you will save yourself a lot of time and frustration in the end. 

This will be easier for you to learn by looking at an example of it, check out this article for some example of support and resistance zones. Only 3 were profitable!

Other interesting tidbits about forex support and resistance: 

Knowing how to identify levels of support and resistance can help traders enter high probability trades with good risk to reward ratios.

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Support and Resistance Talking Points: Support and Resistance can help guide traders with entries and exits. New traders often make it more difficult than it really is to identify these levels. Learn how to use Psychological levels, Swing highs/lows, and Pivot Points.

Support and resistance levels are the basis of Forex technical analysis. It is they change the distribution of the sellers and buyers of any currency. There are many different support and resistance indicators in the internet but they all . How I draw support and resistance levels on my charts: Below are examples of how I would draw the relevant support and resistance levels on some of the major Forex pairs, Gold, Crude Oil and Dow Futures as they stand at the time of this writing. Above each chart is a brief explanation of why I drew the levels where I did. 

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Best Support and Resistance Indicator for MT4

Support and Resistance are the best classic technical trading tool; an absolute majority of forex traders use these price levels to speculate the future moves of the market. Knowing how to identify levels of support and resistance can help traders enter high probability trades with good risk to reward ratios.

Apr 26,  · This Support and Resistance Zones Strategy will enable you to of the way how to trade support and resistance in forex, support and resistance levels?/5(2). In this way, resistance and support are continually formed as the forex market oscillates over time. The reverse is true for the downtrend. Plotting Forex Support and Resistance. One thing to remember is that support and resistance levels are not exact numbers.

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