Trader Must Know The Strong SNR Areas!

In practice, currency prices in the forex market always move up and down. This is also influenced by the supply and demand for these currencies. Then, there comes a time in the forex market where the price either stops moving up or stops moving down. This happens because the demand or supply is not big enough to cause the forex price to go up or down.

In simple terms, support and resistance are likened to the two most discussed attributes in analysis where support is a level that has the potential to hold back a decline in prices. Meanwhile, resistance is a level area that has the potential to hold back price increases. These levels are used to determine whether the price will continue or reverse.

Basically, support and resistance aims to find the right area when taking a buy or sell position and determine targets for price movements. The support area is generally an area used as a reference for looking for buy positions, while the resistance area is used as a reference for looking for sell positions.

Traders should not be fooled by breakout signals. If the candle touches the resistance point with the closing price below the resistance point, the price will experience a reversal. However, when the closing price is above the line or resistance point, it means that a price breakout will occur, and the price will continue to rise to create a new resistance point. When a breakout occurs, the trader must open a short buy position between 3-5 minutes. So, the key to this strategy is to pay close attention to whether it is a reversal signal or a breakout signal, so that traders don't get the wrong signal.

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