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Trade Forex Successfully with
Support and Resistance Strategies


Improve Your Forex Success with Valuable Techniques.

Trade Forex Successfully with Support and Resistance Strategies

- About the Course
  Developer

- A message from TCFX

Forex Basics

Support and Resistance Theory

- The Pizza Incident

- Support and Resistance
  - Video

- The Depth of Support and
  Resistance

- Nothing is Guaranteed in
  the Forex Market

- What is the Point Then?

- Applying Support and
  Resistance

- Applying the Rules:
  Rules 1-3

- Applying the Rules:
  Rules 4-6

Forex Basics

Head & Shoulders Trade

- Head & Shoulders Trade
  [Continued]

- Entering the Head &
  Shoulders Trade

- Exiting the Head &
  Shoulders Trade

- Example of the Head &
  Shoulders Trade

- Head & Shoulders Trade
  - Video

Forex Basics

The Firsty Trade

- Firsty Trade - Video

- The Setup

- Wait for it...

- The Entry Point

- Recap of the Firsty Trade

- Recap of the Firsty Trade
  [Continued]

- Exiting the Firsty Trade

Forex Basics

Conclusion

Another example of the Head & Shoulders Trade

Here is another example using the USD/CHF.

On the 4 hour chart you can see that the 1.1680 price exhibits support and resistance zone qualities. The pair has found resistance at this level several times making it a valid zone.

Disclaimer: Past performance is not indicative of future results

Later, we see that the 1.1680 level provides support (and more resistance) for the USD/CHF.

Disclaimer: Past performance is not indicative of future results

Now we see the formation of a Head and Shoulders, however in this case it is a mirror opposite. This is referred to as an inverted or reverse Head and Shoulders.

Disclaimer: Past performance is not indicative of future results

On the daily chart you should see that price has penetrated the neckline which is also the support and resistance zone in this case.

Disclaimer: Past performance is not indicative of future results

Now you need to wait for the price to break the neckline to trigger your trade setup. Place your stoploss just beyond the last shoulder’s low and you should be all set.

Disclaimer: Past performance is not indicative of future results

The distance from the top of the head to the neckline is 248 pips, this will be the profit target and you should place a take profit order at 248 pips above the neckline.

A quick note: Notice how in this instance there is no re-touch of the neckline. The price simply pushes through the neckline very quickly and hits the profit target. Often you will see the re-touch, which will allow you to enter the trade, but other times you will not. Like all trade setups, you will not always meet the trade criteria. If you are careless or force trades, you will quickly find yourself regretting it. The bottom line here is if you miss a trade do not chase it.

From a risk management stand point it is important to maximize the effectiveness of the trade by using the proper reward risk ratio. This is necessary in both of the strategies taught in this course. A great way to figure out your proper trade size is to use a risk to reward calculator.

Support & Resistance Education   Support & Resistance Education
Forex trading involves significant risk of loss and is not suitable for all investors. While you can earn a cash bonus,
you can also lose money due to the inherent risk of trading. Read full disclosure.

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