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Draw Support And Resistance

Draw support and resistance levels must be completely obvious. Just because you identify one of these levels doesn't mean the market will honor it. You must instead identify the levels that the market will honor. The market will respect support and resistance levels if they are obvious. That is because thousands of other traders have also identified that particular support and resistance level and so they will trade when the market reaches it. Check this link right here http://www.theforexguy.com/ for more information on Draw support and resistance.

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Draw Support And Resistance

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  1. Forex Support And Resistance HOW TO DRAW FOREX SUPPORT AND RESISTANCE LEVELS TheForexGuy.com

  2. Draw Support And Resistance Support is an area on the chart where the market demonstrates strong buying action, easily identifiable by price ‘bottoming out’ caused by bearish price action movement being overrun by bullish pressure at a consistent point on the charts. Support is often referred to as the ‘floor’ that price bounces off, or has trouble moving past.

  3. Resistance is the opposite of support, its where you see price ‘topping out’ as the bullish price action movement is met with overwhelming bearish activity at consistent levels on the charts. Resistance is known as the price ‘ceiling’ that the market falls off, or has difficulty pushing through. Support And Resistance

  4. Support and resistance make up the major boundaries of ranging markets, when a market is range bound the only levels you really need to have marked out is the upper resistance ceiling and the lower support floor of the range. Support And Resistance Mapping out support and resistance is really the most important core skill any serious traders will need to have a good grasp on. If you can’t draw your support and resistance then your trading as a whole will implode on itself.

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