MarketDomino
Newbie
- Oct 29, 2017
- 36
- 5
In MUST of the cases, the price will respect the support and resistence, and if a candle open bellow/above the suport or resistence and closes bellow/above those lines its means (in MUST of the cases) that there is a trend coming, however sometimes it can break thesuport/resistence and go back in next candles.
Those things you get with time and patiance.
Great points! For the naysayers or those that never even traded once this same logic applies to a lot of different markets as well with the obvious difference you won't need to identify stop losses, trailing stop points and so on with B.O.
Actually I would go as far as saying that tracking support/resistances is the 101 of any trader no mater what your style is to be successful in this business and this piece of advice is as solid as it can get.
Good luck with the rest of this interesting journey OP!