AUDJPY support and resistance zones
Support and resistance are the next two things that are important for successful trading.
These are some imaginary lines. That is some zones depending on how someone draws them on the graph, which show us where the price has stayed the most.
We noticed in this example that the price was constantly coming back and bouncing back.
When we talk about zones or support and resistance, there are two types:
- Major zones
- Minor zones
Major zones are all zones that are drawn above one one hour time frame. ( Respectively timeframe one h, four h, 1Day, 1Week, 1 Month.)
Minor zones are smaller zones, and they are drawn in less than an hour. (Respectively on timeframe 30M, 15M, 5M.)
The only advice I can give you about this is to "practice makes perfect".
How to recognize zones is just a matter of exercise. The more you practice, the easier it will be for you to recognize them.
The characteristic of how I draw them is that I look for wicks from candles and draw them on them. That is, I draw them on candlesticks which is visible on the graphs.
In this example, we can expect the AUDJPY pair to climb to the resistance zone 99.00-104.00.
These are some imaginary lines. That is some zones depending on how someone draws them on the graph, which show us where the price has stayed the most.
We noticed in this example that the price was constantly coming back and bouncing back.
When we talk about zones or support and resistance, there are two types:
- Major zones
- Minor zones
Major zones are all zones that are drawn above one one hour time frame. ( Respectively timeframe one h, four h, 1Day, 1Week, 1 Month.)
Minor zones are smaller zones, and they are drawn in less than an hour. (Respectively on timeframe 30M, 15M, 5M.)
The only advice I can give you about this is to "practice makes perfect".
How to recognize zones is just a matter of exercise. The more you practice, the easier it will be for you to recognize them.
The characteristic of how I draw them is that I look for wicks from candles and draw them on them. That is, I draw them on candlesticks which is visible on the graphs.
In this example, we can expect the AUDJPY pair to climb to the resistance zone 99.00-104.00.
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