Trading support and resistance, and discovering support and resistance zones are pivotal to your trading success.
Our Fibonacci channel strategy , and the Red zone strategy are very similar and will help you in understanding exactly what these so-called "zones" are as well so you can check them out also if you wish! Please leave a comment below if you have any questions about Road to Successful Trading!
Like this Strategy? Grab the Free PDF Strategy Report that includes other helpful information like more details, more chart images, and many other examples of this strategy in action! Please Share this Trading Strategy Below and keep it for your own personal use! Thanks, Traders! We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more.
Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow. I have a problem of indecision when the level has broken.. Thanks for commenting. That is a big problem that most traders have, so you are not alone there. I'd recommend you wait for an entire candle to close.
You can check out our youtube channel, Tim Black has a great way he finds where to enter trades. What if price closings passed my resistance line but the candle has a long wick?
Support and Resistance, Part I
Should I wait for the close of the same colored candle completely passed the resistance line before entry? Waiting for confirmation would be a great idea, yes. Support and resistance is no set "point" but always a zone. So the trader needs to use their own discretion to get in a trade at these levels. Thanks for the comment! Let us know if you need any more help. What do you think of this Support and Resistance Strategy? Do you trade support and resistance zones? Forex Trading for Beginners. Shooting Star Candle Strategy. Swing Trading Strategies That Work. Please log in again.
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What indicator are we using for this strategy? Indicators Used in the Support and Resistance Zone Strategy Our indicators for this strategy will be price action and its relationship to Support and Resistance. What is Support? What is Resistance? Author at Trading Strategy Guides Website. Pradeep says:. September 22, at am. Muhan arnold says:.
May 15, at pm. Rahman says:. February 23, at am. TradingStrategyGuides says:.
Support and Resistance, Part I
You can develop a complete trading strategy based on trading entirely the support resistance zones. Keep this in mind when trading breakouts: Often times the market gives the so-called fakeouts or fake breakouts. To protect from fakeouts many traders have developed different ways in which they trade breakouts, each with its own advantages and disadvantages.
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There's no single right way how to trade profitably that everyone should choose. Simply try to develop your own strategy, trading approach, gain experience and become a professional trader. Finally, for an easier way to pick support and resistance levels, you can use our support and resistance indicator that you can download at our website for free.
Support and Resistance Support and resistance are a foundational part of most technical trading strategies.
All You Need to Know about Support and Resistance in Forex
The black lines indicate the resistance levels on the chart, from the starting point on the left, projected into the future to the right. An example of trading the reversal. The two marked areas were valid signals as price bounced off the support area. An example of breakout trading in action entry point in yellow. The downtrend continues after the market broke the support trendline. Support and Resistance. Resistance Support Major vs.
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