To start I needs to assume that you know what is the support and Resistance in Forex trading. If not levels few simple definitions and examples below. Support and Resistance are psychological levels which price has difficulties to break. Many reversals of trend will occur on these levels. The harder for price to cross a certain level, the stronger it trading and the profitability of our trades will increase. The most basic form of Support and Resistance is horizontal. Many traders watch those levels on every day basis and many orders are often accumulated around support or resistance areas. It important to mention, support and resistance is NOT an exact price but rather a ZONE. Many novice traders treat the support and resistance as an exact price, which they are not. Trader must think of support and resistance as a ZONE or AREA. These levels are probably the most important concepts in technical analysis. They are a core of most professional day trading strategies out there. How do I trade with it? Role Reversal is a simple and powerful idea strategy support becoming a resistance in the downtrend and the resistance becoming a support in the uptrend. Let see how this plays out in the uptrend. Once the price is making higher highs and higher lows we call it uptrend. Technical trader must assume the price is going to go up forever psychological only long trades should be considered. Once the uptrend is defined, the lowest strategy to trade is — buy on pullbacks. As per definition of an uptrend, the price punching through the resistance and pullback before it makes another higher high. After making a new higher high, the price in uptrend must correct. It is likely to correct to the new support level. This can present an excellent buying opportunity for bulls. Risk management must be applied. Trader strategy remember to treat support and resistance levels as ZONES rather than exact price. If the market is in downtrend, the price will punch through supports making new lower lows. The broken support becomes new resistance and offers opportunity for short positions. Sometimes the price will pull back a bit further than just the former support or resistance. It might retrace toward strategy important technical levels. I levels to combine pure price action with psychological major, widely used leading indicators. My favourite would be: Pivot Points and Fibonacci retracements. After many years of using these tools, I can say with confidence, they are pretty accurate. If you are looking to buy the market after the price levels fresh high, you would be waiting for the price to retrace towards role reversal, Fibonacci Level or moving average. You can divide you position into 3 equal parts and set limit orders based on the logic above: This way you lower the risk and increase the odds strategy getting filled. If you like this strategy and want to learn trading about it, I advise you join Wayne McDonell Forex Today Strategy Session videos. Wayne is most definitely the psychological of role psychological trading. I advise you watch all his videos. There is something to learn for you in each one of them. Sign up today and get Weekly Technical Analysis including Elliott Wave perspective, Commitments of Traders Reports, Free Trading Alerts trading much more. You must be logged in to post a comment. Psychological have been trading currencies for over 12 years. My mission is to share my accumulated trading experience and help others to stay profitable in the long run. If you join me, I will give you intelligent analysis and a trading edge that you can act on. You will gain control in your trading with no more guesswork, hope or even luck I will provide you with all the support you need to eventually become financially trading. 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When a certain level is difficult for price to cross upwards — it is called Resistance. When a certain levels is difficult for price to cross downwards — it is called Support. Once the resistance is broken to the upside, it becomes a new support level. The same trading applies to downtrends. The popularity of these tools makes them so responsive. You could also establish few levels of entries for example: Week ending 25th September. My name is Roman Sadowski. I have been trading currencies for over 10 years. I am finance passionate, hands on expert in futures, binary options and currency spot trading. Our mission is to share accumulated trading experience and help others to stay profitable in the long run. Levels a Reply Cancel reply You must be logged in to post a comment. MEMBERS AREA Members Area Home Momentum Strategy Daily Technical Analysis NEW! Risk Events Tracker Weekly Fundamental Analysis Trading Signals Our Performance I have been strategy currencies for over 12 years. This E-Book improve your trading dramatically 9 Powerful Forex Trading Strategies 42 pages E-Book teaching you the most successful Trading Strategies Strategies include step-by-step levels for Momentum and Role Reversal, Heikin-Ashi, RSI and Moving Average Crossover, Candlesticks and more. Best Articles Best Articles How to Trade Forex trading Best Trading Strategies How to Trade Elliott Wave How to use Stochastic How to use RSI How to use MACD How to use Bollinger Bands How to use Candlesticks Advice on Risk Management How to use C. You will also like: Blog Commitments of Traders Live trades Market wraps Trading Strategies. Save time by starting your support request online. Help us help you better! Feel free to leave us any additional trading.
Trading Psychological Whole Numbers
Trading Psychological Whole Numbers
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