Traders Choice FX Metatrader Broker
Metatrader Forex Broker

Contact Us | Why TCFX | FAQs | Funding | Account Forms

Call Us: 781-342-0335

Demo Account

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

Head & Shoulders Trade


The head and shoulder formation is a commonly know technical trading pattern. The typical Head and Shoulders formation involves two lower highs and one higher high.  It gets its name because it forms a pattern that looks similar to two shoulders with a head in the middle. According to technical analysis theory this formation indicates a potential reversal in the forex market. The adaptation you will learn in this course could benefit many forex traders. It can likely lead to more successful trades because of its analysis of the head and shoulders formation relative to support and resistance zones.

You can potentially enhance your forex trading success with this formation by simply using support and resistance zones to compliment the pattern.

Head and shoulder formations occur on many timeframes. The strategy you will learn in this section is effective on any timeframe; 15 minutes and up. Please keep in mind that the formation will be more effective on larger timeframes like the 4 hour and daily charts. However because these trades occur infrequently it may be a good idea to practice on lower timeframes to learn the strategy.  Also, keep in mind that on a longer term timeframe you will be looking for a larger profit, and the trade will often take longer to finish.

Below, the 4 hour USD/CHF chart shows that the 1.2500 level has provided resistance for the pair.

Disclaimer: Past performance is not indicative of future results

Also the 1.2500 level served as support for the USD/CHF based on the chart below.

Disclaimer: Past performance is not indicative of future results

Because of this you should pay particular attention to when the pair approaches this level in the future.

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.

The information contained in Facebook link: https://www.facebook.com/pages/Traders-Choice-FX/20302051398 is no longer current and should be disregarded.