moonchild
VIP Contributor
If you're a Forex trader, you've probably heard about the mystical concepts of support and resistance. These levels are like the superhero duo of Forex trading, and they're all you need to conquer the Forex market. Yes, I said it - all you need.
Support is like a base where the price bounces from, think about it like a supporting ground where price rests before taking off. It's a level where the price tends to bounce back up after reaching a certain point. Resistance is like the ceiling, always stopping the price in it's tracks. It's a level where the price tends to stop and reverse after reaching a certain point.
But why are they so important? Well, they can help you identify key entry and exit points for your trades. plus, they can help you manage your risk and maximize your profits. And who doesn't love profits?
If support and resistance were real people, they'd be like Batman and Robin if you watched the movie, except they don't wear spandex clothing lol. these techniques are all you need to get an entry and exit in the market, just as the saying goes, buy at support and sell at resistance, if you can follow this simple rule you'll be initiated to the winning team.
Support is like a base where the price bounces from, think about it like a supporting ground where price rests before taking off. It's a level where the price tends to bounce back up after reaching a certain point. Resistance is like the ceiling, always stopping the price in it's tracks. It's a level where the price tends to stop and reverse after reaching a certain point.
But why are they so important? Well, they can help you identify key entry and exit points for your trades. plus, they can help you manage your risk and maximize your profits. And who doesn't love profits?
If support and resistance were real people, they'd be like Batman and Robin if you watched the movie, except they don't wear spandex clothing lol. these techniques are all you need to get an entry and exit in the market, just as the saying goes, buy at support and sell at resistance, if you can follow this simple rule you'll be initiated to the winning team.
