forex tribe's Technical Analysis

Re: Resistances and Supports

Resistances and supports updated the 11/12/2012
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Re: Resistances and Supports

Do you think trendline will work az resistance on USDHUF? I watch the D1 timeframe, and it broke the trendline once, but it seems it is pulling back, so there may be good emtries for short position.
 
Re: Resistances and Supports

sambazone said:
support and resistance work well untill they dont! As simple as that))
Click to expand...

True, but if you can stack support levels they can give a very high probability trade. For example, if there's a confluence of weekly, daily and a historical horizontal support level all coinciding at the same price, it's a strong barrier and can be a great trade.

Doesn't happen all that often I grant you, but it's worth being aware of.
 
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