Support and Resistance levels are both very important and useful in many cases.
Support and resistance levels are used to identify levels where price either finds support to keep pushing up or finds a level of resistance that pushes the price down.
One can use the levels to help identify a trade trigger(breakout,retest and enter),It can also be used to identify tp levels and lastly,it helps to identify levels where the price creates volume(new opportunities in the market)…new structures.
You have to practice these basics and know them by heart as they are of great importance.
Pick any currency pair of ur choice and start identifying levels of support and resistance.If you are comfortable you can also add trendlines to identifying your trends.
My recommendations:
To open a forex brokerage account; I recommend RCG Markets for various trading instruments to choose from: Currency pairs, Shares, Metals, Energy Carriers, Indices.
This broker also has flexible leverage depending on your trading trajectory.
To open an account: https://portal.rcgmarkets.com/register?ibid=852167
Before concluding; I’d like to also tell you some great news. There is a challenge happening at AUDACITY CAPITAL for forex traders worldwide. AUDACITY CAPITAL is funding forex traders who show potential in forex trading through their programme called the Ability Challenge.
Click the link below to register for the challenge and please; do come back and comment in this blog on your experience of the challenge.
https://ability.capital?ref=motlotlgimoerane
You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.
EverythingTrading 