HOW TO USE SUPPORT AND RESISTANCE IN FOREX TRADING EFFECTIVELY
INTRODUCTION Support and resistance are fundamental concepts in forex trading that every trader must understand. These levels act like psychological barriers in the market, where prices often pause, reverse, or break through depending on trader behavior. Support represents a price level where demand is strong enough to stop the market from falling further, while resistance is where selling pressure prevents the market from rising. Understanding how to use these levels effectively can significantly improve your trading decisions, help you time your entries and exits more precisely, and reduce unnecessary losses. Whether you're a beginner or an experienced trader, mastering support and resistance is a key step toward consistency and profitability in the forex market. UNDERSTANDING WHAT SUPPORT AND RESISTANCE ARE Support and resistance are key concepts in forex trading that help traders identify potential price turning points. Support is a price level where a...