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Similar in function, but in the opposite direction to the breakout strategy is the breakdown strategy. This forex trading strategy is designed to jump aboard a move when a forex market slips below a previous support level. Once again, many traders could view this as a change in sentiment towards...

Similar to analysing support levels, forex traders also analyse resistance levels. The resistance level is a point where the market turned from its previous peak and headed back down. If a market is appreciating but then suddenly falls, the overall view is likely to be that the price is getting...

Many forex traders believe levels that were important in the past could be important in the future. This follows the logic that if a market dropped to a specific level and then ‘bounced’ back, the market viewed this support level as a good place to buy. So, if the forex pair slips back to that...