i understand that by not having key levels, i will be over trading like no one's business. but, what are the key levels i have to look out for? anyone can lead me to threads on FF that talks about these key levels?
i understand that by not having key levels, i will be over trading like no one's business. but, what are the key levels i have to look out for? anyone can lead me to threads on FF that talks about these key levels?
Ignored
not sure but I'm guessing you mean.. support and resistance
i understand that by not having key levels, i will be over trading like no one's business. but, what are the key levels i have to look out for? anyone can lead me to threads on FF that talks about these key levels?
You should begin with simple break-up and break-downs levels, just to understand the meaning of a strong resistance/support. In time you will find out more important key levels such as the retest level, which I always look for. When a currency breaks, it usually turns back to the resisting or supporting level which it broke. Many traders who missed the original break wait there and support or resistance the currency. If you know how to spot these levels, you will be able to enter to very profitable trades. I also look for reversal levels, usually after a currency corrects 20-40% of a strong break-up/down. I almost never enter the market in extreme points- they are for amateurs. You are right, if you don’t follow specific key levels, you will be over trading. Good Luck!
