You will learn
- The basic concepts of support and resistance
- How to identify these levels in the markets
- How to use these levels with your trading
In-depth description of this webinar
There are some building blocks that every trader needs to understand. These are your foundation for success. These concepts are important to understand and interpret price action. These key elements help you build a roadmap so that you do not get lost and just like a roadmap the more details you add the more successful your trip will be. These concepts have been divided into three classes ranging from charts to trendlines and support and resistance.
Support and resistance is a concept that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level. There are many tools to determine these support and resistance levels, including pivot points, Fibonacci and Gann Fans, but the of all is what I call Eyeballing. This technique will help you make personalized decisions which might give you an edge in the markets. In this class, we will learn the basic concepts of support and resistance as well as the other technicals and the application of these levels and we will practice Eyeballing.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.