January 2021 - AimUp Trading

What is support and resistance in forex?

2021-02-07T15:05:58+00:00

To your question what is support and resistance, we can answer as follows. Support and resistance in forex is one of the most used techniques. This is because it is one of the most powerful tools to use in trading. Before we move on to the basics, you need to understand that everyone has their own idea of where and how resistance and support was formed. Strange as it may sound, we will show you examples later in the article. But now we start with information for beginners to forex trading. Unlike most websites and videos on youtube, here we will give you examples drawn on the chart of a particular traded instrument. If we look at the image above we can see the uptrend (bull market) ,the price of the currency pair EURUSD rises. On the chart we have [...]

Trend lines, how to draw them correctly.Top 3 best methods

Master Trader2021-02-07T15:09:42+00:00

Trend lines are one of the most common and used techniques in technical analysis in forex trading. We must first answer the question: what are the trend lines, and how can we use them in forex trading? Trend lines can be used both to determine the trend and to identify important trading areas. If we draw them correctly, on the tops and bottoms, we can understand whether a certain tool has an upward trend or a downward trend. In addition to determining the trend, we can use them to determine resistances and supports, but they are not as reliable as like for determining the trend. No matter what strategy you use, trend lines should be present in your trading arsenal. They are very important, of course, when the trader draws them correctly. When they are drawn properly (on the tops [...]

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