Quote from: gabbie2010 on Today at 07:08:32 PM

Quote from: Moyna Akter on June 26, 2020, 11:40:25 AM

It is very safe to trade with support resistance but when we learn to trade we forget it after learning it or we are not interested in using it. But the use of support and resistance is very important in trading. Many of us run after strategy and forget or ignore the use of support resistance. The market always respects support and resistance or breaks out and moves in an up or downtrend.
I urge new trades to learn to draw support resistance with great care and observe the market to see the results for yourself.

My trading strategy is based on price action on support or resistance and support lines basically after drawing those lines I always wait for price breaking those lines and subsequently retouching it i.e resistance turning support vice versa I lay emphasis on price reaction using rejection candles after touching those lines and I used those lines also to determine where my stop loss will be placed subsequently aiming a take profit in the next line while considering my reward to risk ratio this lines are important and must be incorporated into any trading strategy.

Hardest part on making up these decisions is on when you do presume out that those points or levels of support and resistances if there would be no happening some breakouts or
rejections and this is where trading makes it more harder where you cant guess on what would be the next price action would happen.Overall using up these technicals are pretty common.
I cant imagine for someone not to able to make use of these since this had been always the basis or tool that can make you spot out on where price do bounce nor breaks.