Support and Resistance, A way to draw a horizontal line !
Support, S and Resistance, R
1. Definition
1.1. Support is a zone where price moves up.
1.2. Resistance is a zone where price moves down.
- Support and Resistance can interchange when that zone is overcome by price
2. Support and Resistance levels
2.1. Horizontal line
2.2. Trendline
2.3. Moving...
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Good afternoon.
Today we are looking at another chart pattern
RISING AND FALLING WEDGES .
Let’s get on it.
Wedges can either be continuation or reversal patterns.
Just to refresh your memory, continuation patterns are formations that show side way price action, signalling a temporary pause in the trend; whereas reversal patterns indicate a change in the...
Momentum is another word for how the price on your charts moves. Momentum analysis, though, is one of the most important skills any trader can learn.
What is momentum?
First of all, we need to understand what momentum actually means but this is straightforward.
Momentum = Trend strength
There are two ways of looking at momentum. The first one just looks at the...
I have given thought to this and this is my opinion.
>>>>>Small account
In order to grow a small account to sustainable levels, higher risk will be applied compared to a large account.
What i mean by this is, 1-2% monthly gain can be sustainable on a large account but on a small account that would be insignificant.
To bridge this gap one has to increase position...
Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p
You can also see a lovely trend line TL that has been touched more than once, so this is also...
Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p
You can also see a lovely trend line TL that has been touched more than once, so this is also...
If you can find a good support and resistance level or zone it will keep your bank account fed well for years.
As you can see the 1st purple arrow marks where price 1st tested this zone as resistance in 1995 when Coolio was at number 1 with "Gangstas Paradise" ( sorry if I've just made you feel old ) :p Then the price passed through this zone for the next few...
Here we have 3 different timeframes open ( 1D, 1W and 1M ) On the same pairing EUR USD, each chart has the same trend line ( TL ) and same support level marked on them, You can see how important it is to put these level on your chart and keep them there because if you look at the 1W chart you can see that price respected our support line in 2003 then fast-forward...
ORANGE ARROWS - SUPPORT
PURPLE ARROWS - RESISTANCE
Look at the chart and tell me that support and resistance and supply and demand zones are not the way to trade, then I will tell you to folk off ;p
As you can see that every time price entered into one of our zones it bounced or if it did break it made a big move, the same happened with our support/resistance...
