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RE: Daily Technical Analysis: 16/2/18

in #forex7 years ago

Thanks for your question! My trading signals are based on several factors, support & resistance level is one of them. Finding them out is quite simple.
For example: NZDUSD (NU)
Look at the D1 chart: I draw a horizontal line to determine the resistance. Pay attention to where I mark the yellow.
forex NU D1_1.png
Forex NU D1_2.png

Because of I am a Day trader so I look at the H4 chart:

H4 chart:

Forex NU H4.png
Look at these chart, you can see how I get the resistance and the support level!
However, if there are some other references, the resistance and the support level will be more reliable.