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|Support & Resistance|
If you are going to invest in online Forex
currency trading, you will be reading a great deal of Forex charts. Forex
Support and resistance levels are important concepts that are quite
commonly used when trading online.
Support levels are horizontal lines that
define the price at which most traders feel the prices will move higher.
You can pin point support levels by viewing the day's lowest prices. These
lows usually fluctuate around a certain point - which is where the support
level is located.
A common Forex trading strategy uses Forex support and resistance levels to set the placement of stop loss and take profit limit orders
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