The Importance of Support and Resistance

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The Importance of Support and Resistance

Post  ilearn2t on Sat Jul 28, 2012 5:09 pm

Hello Everyone

Two of the important financial indicators used in the foreign exchange trading market today are the "support" and "Resistance" levels. The S & R is the one of the most popular and widely used methods of technical analysis in Forex. It’s simple to understand and doesn’t even require any additional analytical tools except the bare chart of the currency pair.

When the support level is broken it becomes a resistance level, the conversely is also correct, sometimes a false breakout is possible, the longer (higher) the time-frame the more precise the S & R levels become.

Good luck
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