We look at an area that has either Support or Resistance and that has been broken through. This means that this price has a lot of significance. The price just keeps getting rejected there. People large players are interested in this price.
If you want to be using Support and Resistance right you have to realize it's not an exact line. It's an area that you have to see and draw out. It looks just like a big tail or wick. This is also called a fake out.
We the profitable traders want to see to where it will retrace and how we can take advantage of that. It matters more HOW it retraces. We want to read the story of the retracement in as much detail as possible. This will tell us when it is ready to make that big move again. This is what we at Forex Watchers call the Money Spot. Because few people can read correctly where the market will go, many people will lose money from this spot.
If you can read this correctly and get on your are trading with the big players. These are the big moves. Fill out your details below to be updated instantly when there is a new live webinar coming up or other major announcements. Using Support and Resistance Right support and resistance trading strategies webinars Oct 03, Recent Posts Lifestyle of a Trader Oct 06, Categories All Categories announcements basics candlesticks correlation divergence fibonacci forex strategies goals indicators lifestyle mt4 nfp non farm payroll pivot points price action psychology reversals support and resistance timeframe trading strategies trendline webinars.
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