What’s interesting is that the support and resistance levels do tend to create reactions, but if they do not then the trader knows that the market is in theory trending in a particular direction. This is based upon what was once used in the pits in open cry trading, which is the way markets used to be traded. The support and resistance levels are areas where traders would be looking for potential support and resistance. These are collectively known as resistance one, resistance two, resistance three, support one, support two, and of course support three. The Pivot Point Indicator For MT5 not only plots the Pivot Point, but it also plots the support and resistance levels above and below the Pivot Point, which is essentially considered to be “fair value” for the trading session based upon the previous one. Alerts In Real-Time When Divergences Occur
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