Hi and welcome to the 'Which Forex System?' blog.
I'll be posting regular market updates from well respected Forex experts and showcasing the best Forex advice and systems, so you don't have to waste fruitless hours searching for it yourself!
Add me to your 'Favourites' now and as a special thank you, I'd like to give you 4 fantastic FREE gifts by simply entering your details on the right of this page >>>
You'll receive my 3 Part Ebook series 'The Forex Decoder' which covers everything from the history of Forex, to revealing the most consistently profitable indicators you'll need in your Forex arsenal. I've sorted the 'wheat' from the 'chaff' so you don't have to make the same mistakes as I did when I first started.
You'll also receive a copy of Mark Nelson's famous '7 Habits Of A Highly Successful Trader' which will prove an indispensible aid in your Forex career, as it has done in mine.
Just enter your details on the right and get these 4 fantastic gifts absolutely for FREE >>>
Yours 'Forexly',
Cliff
Drawing Support and Resistance on Forex Charts
By Niall Fuller
This video discusses how to draw support and resistance levels on your charts in order to plan for the upcoming trading week. Every Sunday afternoon I take the time to go through the charts and plot my key support and resistance levels, look for any relevant price action, turning points or swing points. The best thing you can do is plot your levels out on the daily chart before the week begins and every day after the markets close in New York.
The chart in this video is the EURUSD daily chart, one of the first things I do when drawing S & R levels is to mark the major turning or swing points in the market, these are the obvious “pointy” parts on the chart where the market made an obvious change of direction. I marked 6 key levels or swing points on the chart in this video, however that’s not enough, we also need to draw in horizontal lines to connect these key market swing points.
It is best to think of these support and resistance levels as “areas” instead of exact price levels, this allows you to have some leeway with your stop placement. I also draw in the “interim” levels on the chart after drawing in the major S&R levels, these “interim” levels are smaller or perhaps less significant support and resistance levels on the chart.
This video was meant to explain how to draw support and resistance on a forex chart and also how I go a little bit deeper to draw the less obvious “interim” or in-between levels in the market.
http://www.learntotradethemarket.com/trading-videos/drawing-support-and-resistance-s-and-r-levels
I'll be posting regular market updates from well respected Forex experts and showcasing the best Forex advice and systems, so you don't have to waste fruitless hours searching for it yourself!
Add me to your 'Favourites' now and as a special thank you, I'd like to give you 4 fantastic FREE gifts by simply entering your details on the right of this page >>>
You'll receive my 3 Part Ebook series 'The Forex Decoder' which covers everything from the history of Forex, to revealing the most consistently profitable indicators you'll need in your Forex arsenal. I've sorted the 'wheat' from the 'chaff' so you don't have to make the same mistakes as I did when I first started.
You'll also receive a copy of Mark Nelson's famous '7 Habits Of A Highly Successful Trader' which will prove an indispensible aid in your Forex career, as it has done in mine.
Just enter your details on the right and get these 4 fantastic gifts absolutely for FREE >>>
Yours 'Forexly',
Cliff
Drawing Support and Resistance on Forex Charts
By Niall Fuller
This video discusses how to draw support and resistance levels on your charts in order to plan for the upcoming trading week. Every Sunday afternoon I take the time to go through the charts and plot my key support and resistance levels, look for any relevant price action, turning points or swing points. The best thing you can do is plot your levels out on the daily chart before the week begins and every day after the markets close in New York.
The chart in this video is the EURUSD daily chart, one of the first things I do when drawing S & R levels is to mark the major turning or swing points in the market, these are the obvious “pointy” parts on the chart where the market made an obvious change of direction. I marked 6 key levels or swing points on the chart in this video, however that’s not enough, we also need to draw in horizontal lines to connect these key market swing points.
It is best to think of these support and resistance levels as “areas” instead of exact price levels, this allows you to have some leeway with your stop placement. I also draw in the “interim” levels on the chart after drawing in the major S&R levels, these “interim” levels are smaller or perhaps less significant support and resistance levels on the chart.
This video was meant to explain how to draw support and resistance on a forex chart and also how I go a little bit deeper to draw the less obvious “interim” or in-between levels in the market.
http://www.learntotradethemarket.com/trading-videos/drawing-support-and-resistance-s-and-r-levels
