Perhaps the best support and resistance levels are traditional swing/wave highs and lows. These are the levels we find by zooming in over a longer time frame, usually a weekly chart or possibly even monthly.
The strategy for the ABCD pattern is very similar to the other well known
Advanced Pattern. We want to identify 3 market moves and 2 major
Fibonacci region. A combination of these moves makes 4 points
(A, B, C, D) that complete the pattern.
That trendline breakout forex trading strategy works really well with the trendline trading strategy. Think of it as being a trendline on the price and you want to take trades that keep it going. With the trendline trading strategy, you are trading up or down on the...
This price action strategy is very simple to use. The secret of the trendline is the fact that the price reacts and bounces from the trendline, and if you know how to draw a trendline, you can guess where the price is going to bounce from the trendline and take trades...