The break in the resistance level can be a signal for opening the long position which can be protected then by the stop-order. It can be placed below the nearest support level or, for the sake of safety, immediately under the break level which now will perform the support functions.
Price rising up to the resistance level at the descending tendency and price dropping up to the support level at the ascending tendency can be used for opening new positions and adding lots to the existing profitable positions. At choosing the safety lay-off levels at FOREX one should first of all pay attention to the levels of support or resistance.
No comments:
Post a Comment