The importance of support and resistance

[Sanza]

Does anyone agree that the base of all trading is support and resistance

 

[hoangqb]

Does anyone agree that the base of all trading is support and resistance

I think trading psychology is the most important.

 

[Sanza]

I think trading psychology is the most important.

That is true but I'm referring to trading as a skill now you know analysizing the markets

 

[abs_78]

partially agree, but you need to trade together with price action

 

[sgate]

price action trading all day, it took me a long time to start trading with just price action

 

[Danny45_Worldstocks.com]

market analysis is truly important before taking the plunge. It pays back if you spend some time on research and keep an eye on the trends.

 

[Biznet]

Price action is the best, I spend most time on it.. It depends on your trading skills

 

[lpitrade]

i think the most important is your accout management

 

[bethron]

I think support and resistance is very important to price action trading. I use SR levels a lot to set profit and stop-loss targets.

 

[Adebayo Oyewole]

price action trading all day, it took me a long time to start trading with just price action

Mehn, its not easy

 

[arcanis]

For me money management is the most important thing.

 

[karli20]

It helps to use some resistance and support indicator, but it is not always useful, but it still helps to know when it breaks a price level but always confirming the movement

 

[akinomono]

Support and resistance are important concepts in technical analysis used by traders to identify key levels in the price movement of a financial instrument. Support levels are where buying is expected to be strong, while resistance levels are where selling is expected to be strong. These levels can help traders identify potential entry and exit points, manage risk, and make informed trading decisions.

 

[yasir.ril]

Support and resistance dont work properly new concept is demand and supply

 

[skrimon]

Support and resistance levels are essential concepts in technical analysis and play a crucial role in determining market trends, making trading decisions, and managing risk.

 

[franpere]

I think that supports and resistances are helpful but by themselves they are not enough, more information is needed to be able to operate

 

[Fin_Trader]

Trading support and resistance levels is an effective and time-tested strategy in forex. However, it is important to correctly identify key levels, consider the market context and use additional tools to confirm your decisions. It is also necessary to always be aware of the risks and manage them by setting stop losses and take profits.