9 good little ways to help us determine support and resistance

forexbrokerrebateprogram 2023/2/24 14:28:38 4Views

Today we have summarized 9 good little suggestions to help us determ forexrebatebeste support autorebateforex resistance 1 empty K-line forex broker rebate program when you are looking for the most important support, resistance, you certainly do not want to be distracted by the various indicator lines in the chart, so you need a clean K-line chart so, whenever When I draw support and resistance forexbrokerrebateprogram, I remove all the indicator lines from the chart and those of you who know me, know that throughout my trading process, there are only support and resistance levels and a few moving averages on the chart at most Remember: only a clean K chart can help you find support and resistance levels quickly and accurately: 2 Start with the weekly K chart to find long-term cashback forex levels I highly recommend I highly recommend that you start with the weekly K chart, because in the weekly K chart, all long-term key levels can be seen at a glance. In this article, I will give an example for the same currency pair GBPJPY, and you can see an example of the following chart from the weekly K chart, I have reduced the picture, the time span is nearly 2 years, and I have drawn horizontal lines on the most obvious positions of the price trend shift in this chart: (in order to 3 daily chart when you can find the key support, resistance levels in the weekly K-line chart, you can proceed to the next exercise: drawing in the daily chart here, you need to find the key position is likely to be very inconspicuous in the weekly K-line chart, or even easy to ignore look at the following example (daily chart, time span: nearly 6 months): in the above chart daily chart, I drew a recent support level at 184.222, if you look at the weekly chart you can find this position in the weekly chart is not conspicuous at all, but in the daily chart it is a very critical position in the daily chart, if the weekly key level drawn with the daily key level difference of 20-30 points, you can merge the two conditions into one, subject to the daily line, because the daily line is more In general, the purpose of the intraday chart is to "review" the weekly/daily key levels and recent key levels on the intraday chart, because they are important on the intraday chart. In general, I rarely draw further key levels on the intraday chart, but occasionally I do encounter a situation where I need to draw further levels, usually on the 4-hour chart rather than the 1-hour chart. I have drawn a new near-term key resistance level at 186.030 because it is too important in the intra-day chart, but not in the daily and weekly charts.5 The "key levels" and "near-term key levels" are at "3" and "4". "The difference between these near-term and long-term levels is that: 1) they are not visible on the weekly chart; 2) they are very close to the current market price; and in the K-chart, the near-term levels are also very important. In the K-chart, near-term key levels are also very important, but long-term key levels are more important because they are stronger pressure or support levels, and we need to learn to distinguish these near-term key levels from long-term key levels through long-term study and practice.6 The most frequently asked question is: "How long do I need to look for key resistance or support levels?" This is a good question and the answer can be found in the above article In the weekly chart, the time frame can be nearly 2-3 years; in the daily chart, the time frame can be nearly 6 months-1 year; and in the 4-hour or 1-hour chart, the time frame can be nearly 3 months or less However, I think that if it is too long, then the accuracy will be somewhat compromised, so I usually focus my target on about 6 months of Daily chart 7 Dont fill up your K chart I have seen K charts filled with horizontal lines like a 3 year olds doodles You dont need to draw all the support or resistance levels in the chart, you just need to identify the most critical positions and the most conspicuous near term key levels, like the one drawn in the above chart Remember, in trading "lessismore "! If you draw too many horizontal lines on the chart, it will probably lead to over-analysis, which will mess up your thinking and make you more "confused". It is likely to intersect with the candle and cross them.9 Key Support and Resistance ZonesFor key levels, you cant just look at the exact line you draw, but you have to look at the area near the line, also known as the key support or resistance zone where there is strong support or resistance, so it often happens that the high of a candle will break through the resistance level you draw, but will eventually fall below the resistance level. This is the resistance zone at work, it seems to break through the resistance level, but in fact does not break through the resistance zone; the same is true for the support zone
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