Video Synopsis – Forex Trading Strategies Video – trading support and resistance
In the above forex trading education video I describe how to use simple support and resistance levels. Traders often overlook the power and significance of simple support and resistance levels in the market. I show a very solid and important horizontal level that occurred on the Dow in this video that price respected quite well on numerous times.
I took a short entry prior to making this video, at the horizontal level I am discussing in the video. My risk to reward was 1 to 5, horizontal levels “define” risk for you; they essentially show you were the risk lies in the market and they give you an idea of where you can logically place your stop losses. When there are not obvious trends to trade in a market, you can use simple support and resistance levels with price action confirmation to enter the market with a high probability of success. This horizontal line forex trading strategy is a very important piece of the puzzle of how I trade the markets.