By knowing the difference types of support/resistance that occur in Day Trading you can take advantage of them. Do not make the mistake by going short just above major support or long just below major resistance.
The Difference Types:
Prior Day High/Low
Another way to increase the odds of success is to know the difference between tested and not tested support/resistance. They are traded differently so not knowing can be costly.
Last but not least using support/resistance for analysis is a great way to increase the odds of trading on the right side of the market.
Pick your trades wisely by using the material taught in the video above and you will one big step closer to profitability.
DescriptionA great book that touches all bases in trading such as Mind, Method and Money. Alexander Elder teaches you all the important things in trading including strategies/indicators. Recommended for beginners but the book does also provide great value to more experienced traders.
Using Support Resistance In Trading
Support / Resistance is one of the most used tools in trading and is likely to be around forever. This is because support / resistance is based on human psychology which is never going to changeLearn more