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The screenshot above shows how the left head-and-shoulders pattern occurred right at a long-term resistance level on the right. Point 4 on the right chart marks where the head-and-shoulders forms. Zooming in and out on your chart can often help to see the bigger picture better and enable you pick up important clues. When we zoom out, we can see that the Head-and-shoulders formation forms directly at the lower end of the strong resistance level, creating additional confluence for our trade. . . . . . .   #forex   #   #tradingaccounts     #tradesignals     #forexsystem     #scalping     #oscilator     #Fx     #Bulls     #metatrader     #bearsfx     #stockmarket     #fibbonacci     #swingtrading     #rangingmarkets     #trading     #forexbook     #forextraining     #forexstrategy     #forexhelp     #forexmentor     #forexeducation     #ForexCourse     #currencytrading     #GbpUsd     #UsdJpy     #PennyStocks     #BitcoinTrader     #FxTrading     #wallstreet     #priceaction  


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Support and resistance levels are key price areas on your charts where the price has previously shown a reaction. Support and resistance areas are confluence zones and they can be major swing points where the price has turned away from and started a completely new trend. Below you see a classic support and resistance chart. Resistance (R) points are the ones where price could not break above and turned lower and support (S) levels are reaction points where price shot up from. It is so important to know how to find the right support and resistance levels because: 1. You can use them to time entries. 2. You can set take profit and stops using support and resistance. 3. They can be used to scale in and out of trades. . . For more about candlestick patterns and market sentiment, Download your eBook copy using link in the highlight story 📩📖 . . .   #forex   #   #tradingaccounts     #tradesignals     #forexsystem     #scalping     #oscilator     #Fx     #Bulls     #metatrader     #bearsfx     #stockmarket     #fibbonacci     #swingtrading     #rangingmarkets     #trading     #forexbook     #forextraining     #forexstrategy     #forexhelp     #forexmentor     #forexeducation     #ForexCourse     #currencytrading     #GbpUsd     #UsdJpy     #PennyStocks     #BitcoinTrader     #FxTrading     #wallstreet     #priceaction  


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