How Support And Resistance Changed The Way I Trade

[moonchild]

As someone who has been trading in the financial markets for a few years now, I can confidently say that the concept of support and resistance has had a profound impact on the way I approach trading.

Support and resistance levels are key areas on a price chart where buyers and sellers have historically been interested in trading. Support refers to the price level at which demand is strong enough to prevent the price from falling further, while resistance refers to the price level at which supply is strong enough to prevent the price from rising further.

Before I learned about support and resistance, my trading strategy was somewhat haphazard. I would take trades based on gut instinct, news events, and technical indicators without a clear understanding of where price was likely to turn. and because of that, I often found myself entering trades at the wrong time, and losing money as a result even when my indicators shows me a good signal, but once I began to incorporate support and resistance into my trading strategy, I quickly realized a significant improvement in my trading results.

If you are looking at improving your trading you should definitely try it out and give me some feedback, I am happy to help out if you get stuck

 

[Dita Walczak]

As Forex is a volatile market, it’s supports and resistances change at times. We have to recognize them so we can be successful by the end of the day. Technical analysis will help us catch them. Eurotrader provides traders with all technical tools.