To determine the support and resistance on the market, which needs to be observed is the first time how much the price when it closed, open, high and low, by comparing 12 candlestick behind it or it could be seen from the bottom point of the lowest price or the highest price highest in one period daily.
Once the price is determined to draw a line next trend line could be drawn trendline also flat line, sloping downward or upward sloping. And to find out how his range is calculated in percent (%) could also draw Fibonacci.
To determine the highest price and the lowest price can also apply the zigzag line on the indicator but when the zigzag lines drawn by a certain period then the line should be created automatically changes the trendline line manually and use daily for a period of time H4 for analysis and action positions.
Is it that simple? very important in determining the highest and lowest prices with regard candlestick form, do not make price support and resistance on the current state of the black candle in a candle or a white candle, attempted to determine its suport and resistance can be saturated when the price indicated by the candlestick in the form of a hammer, evening star or morning star, because it's good for the determination of support. Besides determining profit targets do not forget to specify the target risk as well
Disclaimer:
Please be more concern if you invest in online forex trading, because in the blink of an investment you can not give any results, understand the risk of any transaction that you run. We here analyzed according to our ability and we are not to blame if the prediction or analysis that we submit inappropriate and contrary to the market that makes you suffer losses.
it's very valuable info. thanks
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