I didn't trade this but, from my experience, a break that happens AFTER support on a previous resistance line is safe to enter.In addition, price moves away from the rainbow.
Wednesday, March 12, 2008
Support and resistance
I didn't trade this but, from my experience, a break that happens AFTER support on a previous resistance line is safe to enter.In addition, price moves away from the rainbow.
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Actually I believe it’s a really great way to trade because we can make bigger number of pips while the ratio for losing is a lot lower if we have the right stop loss, but I do agree that with not been unsure it’s a mistake to do trading. I am mostly sure with support and resistance but still I confirm it from my broker OctaFX, it has really extra ordinary service that is highly accurate and allows me to trade well knowing what’s to expect.
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