I traded the pair AUDUSD,AT
22:00 GMT+1.After a break of resistance that lead to an up trend. Below is the chart.(Click on the chart to see the bigger picture)
There is a custom indicator I will like to share with my readers (forex traders),which I will be giving for free when you register an account with ironfx.com through this link:https://www.ironfx.com/en/register?utm_source=613050&utm_medium=ib_link&utm_campaign=IB.
It's a support and resistance indicator that helps me spot support and resistance levels in the market and I will be explaining how to use this indicator to help traders and intending traders spot breakout in the market and also trends (like the saying,the trend is your friend).
The chart below explains how it works.The red line indicate Resistance and the blue line indicate Support.(Click on the chart to see the bigger picture)
The chart below explains how it works.The red line indicate Resistance and the blue line indicate Support.(Click on the chart to see the bigger picture)
l think this is a good way to trade but one need to watch out for fake outs
ReplyDeleteMichael Okafor,yes you are right.I will suggest one follows the first breakout of the day,and check for breakout in other time frames by trading using multiple time frame.
DeleteAm going to try this method. Sixtus how do I get the support and resistance indicator?
ReplyDeleteSend your email address to my mail box
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