A further word on support and resistance. In the above chart of recent EU action I have added a simple indicator that is supplied with the MT4 trading platform. It is called the Awesome Oscillator (AO). Spend a little time looking at the indicator and it is plain to see that you can not just buy when it turns green and sell when it turns red BUT combined with S/R and candlestick analysis we get some really strong and accurate signals (I've marked some of them on the AO with arrows). No signal will ever be right 100% of the time which is why we apply money management.
To sum-up - choosing strong signals combined with strong money management is key to successful trading.
This is not a trade recommendation. If you are trading use a demo account or know your risk.
Truly appreciable post if I don’t appreciate you it should be my mistake or something disappointing for you. Great job keep it up.
ReplyDeleteThank you for your comment, I just realized that you left it today.
ReplyDeleteGood trading to you. . .