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📈 Forex Trading Academy
Master the art of forex trading with professional lessons on candlestick patterns and proven strategies
Support & Resistance Levels
Support and resistance levels are fundamental concepts in forex trading that help identify potential turning points in price action.
Support Level
A price level where buying interest is strong enough to prevent further decline
Resistance Level
A price level where selling interest is strong enough to prevent further advance
Types of Support & Resistance
- Horizontal S/R: Previous highs and lows
- Trend Lines: Dynamic support and resistance
- Moving Averages: Act as dynamic S/R
- Fibonacci Levels: Mathematical retracement levels
- Psychological Levels: Round numbers (1.3000, 1.2500)
Trading S/R Strategies
Bounce Strategy
Trade the bounce off support/resistance levels
- Wait for price to approach S/R level
- Look for reversal candlestick patterns
- Enter in direction of bounce
Breakout Strategy
Trade the break of significant S/R levels
- Identify strong S/R levels
- Wait for decisive break with volume
- Enter in direction of breakout