Resistance line added to the same chart The resistance line forms a limit on how high the currency price is likely to go. This is not always the case. We want the support or resistance area to act as if it just received a Chuck Norris karate chop: The Resistance is always above current price. What took me a long time to figure out, can help you, so you dont follow that mistaken path. When you are trading in a short timeframe, such as minute or one-hour bars, horizontal support and resistance lines can be especially useful.
Support and Resistance Simplified By Michael C. Thomsett Foreword by David S. Nassar, Founder/CEO, MarketWise Trading School, L.L.C. MARKETPLACE BOOKS.
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Why Does Support and Resistance Work?
How to trade support and resistance levels in forex with two simple ideas: the Bounce and the Break. Support and resistance are better defined using information available in real time. You're missing critical information by ignoring the limit order book. Algorithmic and Mechanical Forex Strategies | OneStepRemoved. Instantly Improve Your Trading Strategy with Support and Resistance By Galen Woods in Trading Articles on January 2, What is the best way to improve your trading strategy?