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Support and resistance levels

01 Jun 2011

Resistance level in forex trade is that upper level which prevent price action from moving ahead,or its that upper point where price was unable to break to continue its move while support level is that at bottom side of market which market was or is not able to break to continue its bearishness.
We have minor and major resistance and support level in forex trade.Minor resistance or support level is the nearest one which if market break, the bias will turn into neutral while major is one that which will confirm direction of market.
Resistance and support level can be determine either with pivot point calculation,or fibonacci extension and retracement .it can as well determine from event of market.
Important of resistance and support level is that it is used to know when market is in bullish or bearish phase.It is equally us to know chart pattern whether is double top ,double bottom,neckline of head and shoulder pattern.

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11 May 2015


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07 May 2015

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