Support & Resistance Levels
This lesson is extremely important as it details tried and tested techniques for identifying and judging the strength of different types of support and resistance levels.
Inentifying support and resistance is extremely important and the largest technical skill needed in order to trade profitably. A support and resistance trading strategy should over time outperform all other types of trading strategies that can be executed with retail Forex brokers.
The following support and resistance levels are explained and ranked in order of reliability as follows:
- Horizontal levels
- Fibonacci retracement levels within major price movements
- Long-term trend lines
- Moving averages, pivot points, and round numbers