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SUPPORT
& RESISTANCE
When price moves up or down, it often pauses to 'test' areas of what have become known as SUPPORT (if price is testing it from above) or RESISTANCE (if tested from below):
The method I will be explaining is based almost entirely on this fact: that price often tests areas of support and resistance and when these testing points coincide with multiple indicators, such as pivot points, fractals, fibonacci (all of which will be discussed) this is called 'confluence' and the probability of the trade being successful is greatly increased. NEXT: GANN and QQE
Recommended for those getting started trading Forex:
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RECOMMENDED READING:
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There is risk in trading Forex. You can lose all of your account value. Trade with risk capital only and always limit risk and use firm stops.