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Author Topic: Guidelines for Support and Resistance  (Read 1759 times)

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Offline best forexTopic starter

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Guidelines for Support and Resistance
« on: November 06, 2018, 03:40:52 PM »
Guidelines for Support and Resistance
Overhead resistance Overhead resistance occurs when selling pressure overcomes buying demand, sending price lower—at least for a time.
Support Underlying support occurs when buying demand overcomes selling pressure, putting a temporary floor beneath the stock
Support areas can act as resistance and resistance areas can act as support.
Horizontal consolidation regions A horizontal consolidation region is an area of horizontal price movement that has lots of price overlap with a flat bottom, flat top, or both. When price bumps against it, the forex pairs often reverses direction or stalls. Long and tight HCRs (lots of price overlap) work better than do short or loose ones (meandering price).
Do not place orders to buy and sell, or place stop loss orders  at numbers ending in zero. That is where everyone else will place their trading orders , perhaps triggering unusual price moves
Use the next closest round number (a number ending with a zero) to guess where price is going to stall or reverse, even if the forex  has never climbed that high
Objects that show support will often show resistance in the future and vice versa.
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Offline Areding

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Re: Guidelines for Support and Resistance
« Reply #1 on: January 08, 2019, 12:50:49 PM »
I often focus on support and resistance levels. This is an important part of my trading strategy, but not the only thing I am guided by. I use in parallel, for example, the indicator MA with different periods.

Offline FutureICO

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Re: Guidelines for Support and Resistance
« Reply #2 on: May 19, 2019, 12:46:27 AM »
It should not just be about support and resistance, but it should also be about getting calculation up to the mark. It’s so very often that we people don’t give much focus to this and eventually suffers due to it. I won’t really make that type of mistake, and that all because of Euro.rates.

Here I track up EUR rates live instantly around Euro currency. So this means, I am aware of the strength and weakness, and when you know that it is a lot easier to deal.


 

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