Support & Resistance Coaching: 2. Support and Resistance

July 10, 2012 by 1 Comment

 

Support/Resistance:

When you are in a down trend, you focus only on support levels…

When you are in an up trend, you focus only on resistance levels…

 

Supports

  • A candle grouping of at least FIVE candles.

  • The lower center candle or wick which has two higher candles on either side.

  • Candle color is NOT important!

  • Supports are only located on the Bottom side of UP Trends.

 

Resistance

  • A candle grouping of at least FIVE candles.

  • The higher center candle or wick which has two lower candles on either side.

  • Candle color is NOT important!

  • Resistances are only located on the Top side of DOWN Trends.

 

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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Comments

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