Winning Forex Trading/Technique for Newbies and Pros (Part 7)

elkapons By elkapons, 21st Oct 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/1ew6rpya/
Posted in Wikinut>Money>Forex Trading

Winning Forex Tradings for newbies and pros, learn the basics and step by step strategies from ZERO to HERO

The Basics (Support & Resistance)

Next and most important basic is Support and Resistance.

Why Support and Resistance is so important?

In trading, support and resistance is very crucial zones for a forex trader. It is because in the zones shows where actually price is heading either there are reverse or continuous trends.

What is actually Support and Resistance?

it is an area where the market price bounces either for retraces or corrections after strong trends before.

Support Zones

Support Zones is where the market price bounce up from series of downtrend. Support zones functioning as a floor to hold the market price from strong continuous downtrend. look for picture above for understanding of Support Zones.

Resistance Zones

Resistance Zones is where the market price bounce up from series of uptrend. Resistance zones functioning as a ceiling to hold the market price from strong continuous uptrend. look for picture above for understanding of Resistance Zones.

Role Reversal

Role reversal is a conditions where the market price bounce up or down from the last support or resistance zones.

Support Become Resistance (SBR)

It is a conditions where the price break support zones with strong downtrend then making new significant support or lower price as mentioned in Part 5 of this article and then bounce back from the last support again to make another new Lower Low. Look at the picture above in circle area to understand the SBR zones.

Resistance Become Support (RBS)

It is a conditions where the price break resistance zones with strong uptrend then making new significant resistance or higher price as mentioned in Part 5 of this article and then bounce back from the last resistance again to make another new Higher High. It is just opposite of SBR.

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Analysis, Audusd, Boe, Brokers, Currency, Ecb, Euro, Eurusd, Fed, Federal Reserve, Fomc, Forex, Forex Basics, Forex Broker, Forex Trading, Gbusd, Metatrader, Metatrader 4, Mt4, Nfp, Pips, Rates, Usd, Usdchf, Usdjpy

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author avatar elkapons
Keep on learning everything, You'll get everything

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