and resistance levels. That means for every 1 of my account balance at risk, I stand to make a 3 profit. If you cant rely on the support and resistance levels on your chart, you wont be able to trade with confidence. Some have even lasted for two or three months, particularly when Ive traded a reversal on the weekly time frame. In fact, ranges such as the one above can often produce some of the best trades. Before I show you some examples using swing trades, lets define the two types of levels. If you wait until you have an open position, its too late.
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See this lesson to find out how I set and manage stop loss orders. Here are a few of the most popular styles: Swing trading, day trading. In this case, the market is carving lower highs and lower lows. You can learn more about both of these signals in this post. Each 24-hour session closes at 5 pm EST, which is considered the Forex markets unofficial closing time.
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