Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Make Money Online
Forex
What Are Monthly Support And Resistance Levels.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="moonchild, post: 280539, member: 57467"] Support and resistance gives the market the direction, price don't move in a linear directions it always move sideways, either trending or ranging, as a forex trader you have to learn how to spot this levels to take advantage of them, today we'll be talking about monthly support and resistance. In Forex, the higher the timeframe the more important and strong the level is, you can't compare a trendline on the 5 minutes chart with a trendline on the 4 hour chart, the former will be easier to break. To spot these levels you have to switch your chart to monthly time frame, use the cross hair tool to move around your chart and look for where two wicks touches at the top or at the bottom, see if it happens more than twice, if it does that means the level is valid, you can draw a horizontal line between the touches, have like three more lines like that, use a different color to differentiate so that you won't be confused later. Whenever you see price approaching this levels you already know it will hold, so you just jump to the lower timeframe and enter for a sell, that's how easy it is to trade with using those levels. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Make Money Online
Forex
What Are Monthly Support And Resistance Levels.
Top