how to Take First Learning Step in Forex Trading

So, it’s not enough to just play bounces. You should also know what to do whenever support and resistance levels ghere are two ways to play breaks in forex trading: the aggressive way or the conservative way.

The simplest way to play breakouts is to buy or sell whenever price passes convincingly through a support or resistance zone.

convincingly because we only want to enter when price passes through a significant support or resistance level with ease.

We want the support or resistance area to act as if it just received a Chuck Norris karate chop: We want it to wilt over in pain as price breaks right through it.

Imagine this hypothetical situation: you decided to go long EUR/USD hoping it would rise after bouncing from a support level. Soon after, support breaks and you are now holding on to a losing position,

If your choice is the second one, then you will easily understand this type of forex trading method. Remember, whenever you close out a position, you take the opposite side of the trade.

support level, price will reverse and start falling again. This phenomenon is the main reason why broken support levels become resistance whenever the

As you would’ve guessed, taking advantage of this phenomenon is all about being patient. Instead of entering right on the break, you wait for price to make a “pullback” to the broken support or resistance level a

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One way to help you find these zones is to plot support and resistance on a line chart rather than a candlestick chather thing to remember is that when price passes through a resistance level, that resistance could potentially become support. The same could also happen with a support level. If a support level is broken, it could potentially become a resistance level

In their most basic form, an uptrend line is drawn along the bottom of easily identifiable support areas (valleys). In a downtrend, the trend line is drawn along the top of easily identifiable resistance areas (peaks).

To create an up (ascending) channel, simply draw a parallel line at the same angle as an uptrend line and then move that line to position where it touches the most recent peak.

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