Guidelines for Support and Resistance

Discussing the ongoing legal proceedings and all things relating to Bitcoin-24
Post Reply
best forex
Posts: 11
Joined: Tue Nov 20, 2018 6:42 pm

Guidelines for Support and Resistance

Post by best forex » Tue Nov 20, 2018 8:31 pm

Guidelines for Support and Resistance

Overhead resistance Overhead resistance occurs when selling pressure overcomes buying demand, sending price lower—at least for a time.
Support Underlying support occurs when buying demand overcomes selling pressure, putting a temporary floor beneath the stock
Support areas can act as resistance and resistance areas can act as support.
Horizontal consolidation regions A horizontal consolidation region is an area of horizontal price movement that has lots of price overlap with a flat bottom, flat top, or both. When price bumps against it, the forex pairs often reverses direction or stalls. Long and tight HCRs (lots of price overlap) work better than do short or loose ones (meandering price).
Do not place orders to buy and sell, or place stop loss orders at numbers ending in zero. That is where everyone else will place their trading orders , perhaps triggering unusual price moves
Use the next closest round number (a number ending with a zero) to guess where price is going to stall or reverse, even if the forex has never climbed that high
Objects that show support will often show resistance in the future and vice versa.
Get best free forex signals via email, website, SMS, WhatsApp from www.best-forexsignals.com
best forex signals presents free forex trading signals live with Entry, Take Profit and Stop Levels. Example of signals from
BEST forex signals gold buy @ 1192 tp @ 1206 sl @ 1185. Coverage of Gold , EUR USD , GBP USD , GBP JPY, USD JPY …

Post Reply

Who is online

Users browsing this forum: Baidu [Spider] and 3 guests