While my trading team and I are mostly on vacation for the month of July, I wanted to write a brief article giving 2 key clues to understanding support and resistance levels, which is also a follow up to my prior article the best support and resistance levels part 1. If you can learn to understand these two key points, you will be able to detect key levels, when…Continue
Added by 2ndSkiesForex on July 20, 2012 at 6:02pm — No Comments
Instead of writing my usual post about trade setups, I thought I'd write something different for two reasons;
1) I really didn't like anything going into the Friday before the Greek elections which could get really ugly
2) I wouldn't want to be holding any Spot positions going into tomorrow's London session since the markets now rumor driven
So what I decided was to talk about an alternative to playing a spot position going into this…Continue
Today I am going to give a lesson on how to find some of the best support and resistance levels in the market. If I had to say - I think there are three types which are the best support and resistance levels you could find. But it would take a long time to go into each type, what are the characteristics of each, what they mean from an order flow perspective, and how to trade each type.
So I am going to cover in today's lesson, what are some of the most critical variables to…Continue
Back in 2008 I started speaking about evolving or dynamic support and resistance, both in the Ichimoku Cloud and in using moving averages. I've been getting a lot of questions from my newer students lately about dynamic support and resistance so thought I would write an article about it here, what it represents and how you can use it in trading.
In essence, there really are two types of support and resistance levels (or…Continue