✊ Support and Resistance: support and resistance trading, how to spot su...

   



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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)

"Support and resistance" is common jargon for areas on the chart where price has a difficult time breaking through. When looking at a stock chart, support and resistance identify areas of supply and demand. This is the most important aspect of trading. Support and resistance. In stock market technical analysis, support and resistance is a concept that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

The calculation for a pivot point is shown below:
Pivot point (PP) = (High + Low + Close) / 3.
First resistance (R1) = (2 x PP) – Low.
First support (S1) = (2 x PP) – High.
Second resistance (R2) = PP + (High – Low)
Second support (S2) = PP – (High – Low)
Third resistance (R3) = High + 2(PP – Low)

The concept of support and resistance forms the basis of Forex technical analysis. Forex traders look to buy at or near areas of significant levels of potential support in an uptrend.
Forex traders look to sell at or near areas of significant levels of potential resistance in a downtrend. A support or support level is a financial term that refers to the price level that historically a stock does not fall below. Buyers tend to purchase the stock at this level.

A Support and Resistance trading strategy that lets you profit from losing traders
Mark your areas of Support & Resistance (SR)
Wait for a directional move into SR.
Wait for price rejection at SR.
Enter on the next candle with stop loss beyond the swing high/low.
Take profits at the swing high/low.

Resistance (resistance level) is a price point on a bar chart for a security in which upward price movement is impeded by an overwhelming level of supply for the security that accumulates at a particular price level. Resistance levels are characteristically found at the upper levels of range bound markets. The simplest way to use pivot point levels in your forex trading is to use them just like your regular support and resistance levels. Just like good ole support and resistance, price will test the levels repeatedly. The more times a currency pair touches a pivot level then reverses, the stronger the level is.

Pivot points are one of the more common indicators that traders use in the Forex markets. This is especially true if the trader is an intraday trader, but loses a bit of importance for the longer-term trader. In fact, there are short-term traders that use nothing but pivot points. A simple moving average (SMA) is the simplest type of moving average in forex analysis. Basically, a simple moving average is calculated by adding up the last “X” period's closing prices and then dividing that number by X.