moonchild
VIP Contributor
First things first, forget about those pre-drawn lines on your trading platform. Those lines may be convenient, but they're about as accurate as a politician's promise. To truly become a pro at support and resistance, you need to learn how to draw them yourself.
Start by identifying the key levels on your chart where price has previously reversed or stalled. These could be areas where price has bounced off a certain level multiple times or where it has struggled to break through a certain point. Once you've identified these levels, draw your lines with precision and confidence, do not let yourself get lost in the details, just draw your lines where you see a clear support or resistance.
But here's the catch – support and resistance levels are not set in stone. They're more like guidelines, really. So, don't be afraid to adjust your lines as the market evolves. flexibility is key in forex trading, you have to be willing to change your mind with the market.
there you have it, my fellow traders. With a little practice and some sharp lines, you'll be drawing accurate support and resistance zones like a boss. And who knows, you may even start to make some serious moolah if you put in the work.
Start by identifying the key levels on your chart where price has previously reversed or stalled. These could be areas where price has bounced off a certain level multiple times or where it has struggled to break through a certain point. Once you've identified these levels, draw your lines with precision and confidence, do not let yourself get lost in the details, just draw your lines where you see a clear support or resistance.
But here's the catch – support and resistance levels are not set in stone. They're more like guidelines, really. So, don't be afraid to adjust your lines as the market evolves. flexibility is key in forex trading, you have to be willing to change your mind with the market.
there you have it, my fellow traders. With a little practice and some sharp lines, you'll be drawing accurate support and resistance zones like a boss. And who knows, you may even start to make some serious moolah if you put in the work.