In this article I will try to show you how to easily find support and resistance zones and how to trade them successfully.
But first let me expalin you in few word what exactly Support and Resistance zones are.
Basically Support and Resistance zones are areas where prices has stuggled in the past and potentially it will react the same in the future.
So Support and Resistance zones helps traders to find great entry points and exit points.
The Hardest Part for Me Is To Show/Explain In This Article How To Spot And Draw Proper Support And Resistance zones.
I know lot of you guys probably has already read lots of tutorails about "Support and Resistance" zones or watched hourly long video tutorails, like I was.
But This tutorial i want to make really simple , because I also struggled with learning right technic , how to spot and how to draw support and resistance zones.
At the end of my long teaching journey i'm come to conclusion that everything is not that complex that it seems and you don't need spend many hours to learn how to proper spot/draw support and resistance zones.
There is just a few simple steps to spot/draw S/R zones.
1.Don't think twice , when you see S/R zone draw it , if you aren't sure about S/R zone , don't draw it.
2.Always before draw S/R zoom out your chart atleast 4x-5x times so you be able to see much more.
3.Always trade with trend , remember, trend is your friend.
4. To be able to know how strong is your S/R zone count candles who touch your drawed zone. If there is more than 5 touches your S/R zone are strong enough and the Market will react in the future again.
And if your zone after several touches breaks big candle(Bullish, Bearish) it's great indicator that your drawed zone are really strong and you can coun't on it in the near future.
I really hope in the Near Future i will upload video tutorial. If you have any questins PM.