How to use Support and Resistance Effectively - page 7
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Bubble,
Thank you for sharing your knowledge with us! The start is quite impressive, I follow this thread with great interest.
Regards,
Chrisstoff
How do you gauge the strength of you S&R ? I notice small crosses on your charts are these fractals?
I use a multi fractal indicator which allows me to see multi time frame S&R which gives me a better idea of there strength
Gordon
here is how a pro trades support and resistance
7 entries on cable with stop loss of 20 and total profit of over 100 pips in 1 day
Lets move on to ROLE REVERSAL
""Another principle of technical analysis stipulates that support can turn into resistance and visa versa. Once the price breaks below a support level, the broken support level can turn into resistance. The break of support signals that the forces of supply have overcome the forces of demand. Therefore, if the price returns to this level, there is likely to be an increase in supply, and hence resistance.
The other turn of the coin is resistance turning into support. As the price advances above resistance, it signals changes in supply and demand. The breakout above resistance proves that the forces of demand have overwhelmed the forces of supply. If the price returns to this level, there is likely to be an increase in demand and support will be found.""
"" quote from stockcharts.com"
Role reversal can occur during a trend or at a reversal known as a V bottom. or top.Hi bubble,
Thanks for starting and updating this thread. Finally, after looong time, another thread about REAL trading appeared. I'm anxiously awating your further contributions
here is how a pro trades support and resistance 7 entries on cable with stop loss of 20 and total profit of over 100 pips in 1 day
Hi el cid,
Thanks for this encouraging chart... However I know how I would have traded any chart like a pro when I see it complete... the problem is how to do it with the same results when you don't see to the right of your screen
So how do you determine such entry points in real time?
Great Thread!!
Bubble thanks for taking the time to share this great info!!!! I am wondering if I have S/R lines drawn correctly on this chart? Thanks
Bubble,
Very good example on the Euro at the moment. It will break but which way? My indicators on the 4hr suggest a bounce how do you trade these situations?
Gordon
hi
I used for S&R is camarilla indicator...it's profitable if you know the pattern behaviour near the line
===================
Forex Indicators Collection