Saturday, May 15, 2010

Forex education : Use support and resistance level

Look at below picture to learn how we use support and resistance level to take profit from forex.

Use a horizontal line to connect past highs/lows,

if the current price is lower than the horizontal line, then that line is resistance level. Put a buy stop above the resistance level to wait for price breaks the resistance level.

if the current price is higher than the horizontal line, then that

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