How to Analyze Forex Charts 1
Support and Resistance:
If you understand the support and resistance, you will understand how the Forex market works.This method will help you open the trade at the right time and get you out of the trade at the right time.Different levels of support and resistance can be found.Once the market support level breaks, the price will generally decrease further and the next resistance level will then act as support.Once the market resistance level breaks, the price usually increases and the next support level then acts as a resistance.Therefore, the support should be sealed when braking and the resistance should be sealed when braking.Suppose the market is on the uptrend. Resistance is the price that starts to decline again after the market has increased.That is, the highest point is the resistance level after rising.Again the minimum goes down, the point is the support level.The same is true if the market is in downtrend.