How To Draw Forex Support And Resistance Lines

Support and Resistance Levels


Support and resistance can help you finding forex entry and exits.

This lesson is a  big part of forex trading strategy where the price of forex market do some reversal and market continue trending.

The reversal are usually happened at the levels of support and resistance.

learn how to identify support and resistance in forex. It is easy steps.

You will know where is the market reversal.






How To Find Support And Resistance Lines In Forex


This lesson is only for the traders who use MetaTrader 4 (mt4) only. If you don’t have one, please download it here.

This forex lesson is for the swing and intraday trader. I don’t think it is suitable for the forex scalper.

Let’s get start it!

find your free ebook to understand forex trends and patterns at the end of this article.



how to draw support and resistance without using indicator




Step 1 : Set Your Horizontal Line Colour



You need to set your own colour for the horizontal lines.This will make your analysis easier, to which timeframe the support and resistance will be.

If you don’t have any idea on that, you can use my favourite colour








Step 2 : Set To View Your Chart Into Line Chart



your chart view will be like this.






Step 3 : Draw Your Horizontal Lines



for this step you need to draw the horizontal line at the place where there is a reversal on the line chart. Start with the bigger time frame and then the lower timeframe.





draw support and resistance on weekly chart. (DarkOrange)

how to draw support and resistance without using indicator





Draw support and resistance on daily chart. (DeepSkyBlue)







Draw support and resitance line on 4 hour chart . (LimeGreen)


how to draw support and resistance without using indicator







Draw Support and resistance on hourly chart. (MediumOrchid)



how to draw support and resistance without using indicator







Step 4 : Change Your Chart Into Candlestick Chart


Tadaaa!! You can now see where is the market reversal. 



how to draw support and resistance without using indicator


see the video on how to draw support and resistance line in mt4.

*

This support and resistance are really important in your trading as it helps you to determine where forex market will reverse.

So now you know how to find the psychological level of the forex market without using any indicator.


Here got an ebook about forex trending. It helps you to understand the market myths trends and patterns. You can download here for free.



I wish you good luck!!


Happy Trading!





InstaForex

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