What you want to hear: theory or something created from experience? Let's start with you show how you determine support and resistance levels. Let's not touch dynamics for now.
Allow I shall try to begin.
The current Forex rate (CFR) is surrounded by levels of:resistance being superior to CFR;
and support being inferior to CFR.
A level breakthrough triggers a leap to a consecutive support/resistance;
False breakthrough is responsible for a rate backstroke (say, from resistance to support).
Thus, having data on resistance and support levels and being armed with R/S true/false criteria, we can grows faultless-entry skilled to ensure smooth level-to-level trading.
Nai are you by any chance a politician or do you work for a government somewhere?
What for these question? We are in a theme support & resistance.:?:
80 words to say resistance is an area above price. Support below it.
I really work for a government, but it is not a theme for discussion.
What are the criteria for true/false support?
It is a good question.
I don't speak about true or false support. I just spoke about false/true breakout the levels of flat (support/resistance). As for me, i think when the currency breakout the level of resistance and then she will make small recoil back and will cross second time new formed top, thus, we have true(not false) criteria. It also is criterion of transformation of a level of resistance in a level of support.
Express your opinion please.
