Overview

This book seeks to teach you the concept of support and resistance using price action, as well as the reasoning behind its effectiveness. Increasing your knowledge and understanding of support and resistance is a vital element. The better you understand the concepts and theories, the more effective you will be in applying the concepts taught to your actual trading. You will also be presented with various triggers that when combined with support and resistance knowledge can generate outstanding trade setups. The majority of Forex traders have heard about support and resistance, and many of these traders use support and resistance in their trading. However, very few understand the true potential that support and resistance with price action present in the Forex market. Using the concepts taught in this book, you will be able to create trade setups that have great potential and will be able to help you identify where and when you should enter and exit your trades. While price action presents a somewhat objective framework for traders to work with, identifying workable zones of support and resistance requires a bit of subjectivity. The key is to find the areas or price levels in a market where behaviors have changed in the past, thereby highlighting the potential for change in the future. That's not to say that support will always hold or that resistance will always bring sellers into the picture, but it does highlight areas where traders can look to impart strategy.

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