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Chapter 20, Part III. Trading Fakeouts. Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 22, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Now I want you to tell me what support and resistance levels are. Just to remember…

    Pipruit: Support/resistance areas are areas where we expect predictable price response when it will touch it. Particularly speaking, support area has significant buyers’ pressure that could stop possible sellers’ action. Strong support areas even could hold if market will slightly break them, just by momentum. This slight breakout could be nice buy opportunity.

    The same with resistance areas – sellers’ strength here increases significantly, so it could stop potential increase in purchases, i.e. buyers’ momentum. Strong resistance area also could be penetrated by market for a short-term, so this could give use am acceptable moment to enter short.

    [​IMG]

    Commander in Pips: Right you are.
     
    Hamza Samiullah likes this.
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