randallbachir

Resistance and Support Lines

FX_IDC:USDEUR   U.S. Dollar / Euro
In the following graph, there is 5 trend lines, where line 1, line 2 and line 3 are support lines and lines 4 and 5 are resistance lines. We can also appreciate how in line 1 and 2 on the D points that there's a break and a pullback indicating opportunities for trading bearish. Also in the line 3, we can see a small break on the D point indicating that we can go in a short position, but I'd recommend to wait a little just to see if there's a pullback on the position. In lines 4 and 5 the resistance is not broken, even though the lines are strong because of the many rebounds on the line.
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