The Most Important Support Resistance Level - Forex James
Check Out My Price Action Course on Udemy - http://www.fxjames.com/udemy/
With so many definitions of support and resistance out there, you may wonder if there one right way of drawing your lines.
If you’re a visual trader like me, there’s no right or wrong way of drawing your lines. Your trendlines may slightly differ from mine, by simply using another broker, which gives you a different price feed.
I believe that not all S/R levels are created equally and there’s ONE level that stands out among the rest. I call it “The Last Man Standing” and “The First Man in Line” level.
There’s a strong psychology behind this particular level because it just recently happened, therefore it’s still in the minds of the traders who have participated. It stops out the previous traders and will make them want to participate in the next move and at the same time it also induces new participants to enter and jump in the new trend.
How to use it in your trading:
Look for price to break through a level barriers.
The move must be a strong thrust.
Look for an oppotunity the first time it pulled back to the level.
#forextradinglive
#forextradingstrategies
#forexforbeginners
#forextradingtutorial
#liveforextrades
#forextrading
#onlineforextrading
Subscribe to Our Channel
Youtube: https://www.youtube.com/channel/UC_XB8yKzMgtugR-5HPOqlLw
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
With so many definitions of support and resistance out there, you may wonder if there one right way of drawing your lines.
If you’re a visual trader like me, there’s no right or wrong way of drawing your lines. Your trendlines may slightly differ from mine, by simply using another broker, which gives you a different price feed.
I believe that not all S/R levels are created equally and there’s ONE level that stands out among the rest. I call it “The Last Man Standing” and “The First Man in Line” level.
There’s a strong psychology behind this particular level because it just recently happened, therefore it’s still in the minds of the traders who have participated. It stops out the previous traders and will make them want to participate in the next move and at the same time it also induces new participants to enter and jump in the new trend.
How to use it in your trading:
Look for price to break through a level barriers.
The move must be a strong thrust.
Look for an oppotunity the first time it pulled back to the level.
#forextradinglive
#forextradingstrategies
#forexforbeginners
#forextradingtutorial
#liveforextrades
#forextrading
#onlineforextrading
Subscribe to Our Channel
Youtube: https://www.youtube.com/channel/UC_XB8yKzMgtugR-5HPOqlLw
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
