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DOUBLE TOP FORMATIONHOW TO FIND ZONES Zones are those spots on the chart where price has repeatedly reversed. However, it may be difficult at first for you to find these zones on the chart. There are several sneaky shortcuts that you can use to help develop an eye for finding zones. Some zones are extremely obvious and easy to find. Other zones are a little bit trickier and may be difficult for you to identify if you have not had experience finding zones on the chart. Please keep in mind these three shortcuts when you are drawing your zones on the chart. 1. Start with a higher time frame chart. 2. Use a line chart to find the zones on the chart. 3. Ignore minor zones.
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by MAFX24
demand supply Supply and demand are the very determinants of price - any price. This applies to everything from your local farmers market, to a rare, one of a kind jewel, to the foreign exchange market. Traders that understand the dynamics of demand and supply are better equipped to understand current and future price movements in the forex market. This article covers the following talking points: 1) Use longer time frames to identify supply and demand zones. 2) Identify strong moves off the potential demand/supply zone. 3) Use indicators for confirmation of support and demand zones.
by MAFX24
DOUBLE TOP FORMATION HOW TO FIND ZONES Zones are those spots on the chart where price has repeatedly reversed. However, it may be difficult at first for you to find these zones on the chart. There are several sneaky shortcuts that you can use to help develop an eye for finding zones. Some zones are extremely obvious and easy to find. Other zones are a little bit trickier and may be difficult for you to identify if you have not had experience finding zones on the chart. Please keep in mind these three shortcuts when you are drawing your zones on the chart. 1. Start with a higher time frame chart. 2. Use a line chart to find the zones on the chart. 3. Ignore minor zones.
Education
by MAFX24
demand supply Supply and demand. ... Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the main model of price determination used in economic theory. You can see two supply and demand zones. The demand zone is where all the big buyers are located. The supply zone is where all the big sellers are located. You can see how fast the price is moving once it reaches one of those levels 1) Use longer time frames to identify supply and demand zones 2) Identify strong moves off the potential demand/ supply zone 3) Use indicators for confirmation of support and demand zones
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by MAFX24
DOUBLE TOP OR RESISTANCE A double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks which are formed when the price hits a certain level that can't be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again. First, let’s define Support and Resistance: Support – Area on your chart with potential buying pressure Resistance – Area on your chart with potential selling pressure
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by MAFX24
lower high Forex high and low strategy. The forex high and low strategy is based on the concept that if the price of a currency pair moves past the previous day's high or low, then the market will continue in that direction of breakout. The forex high and low strategy is based on the concept that if the price of a currency pair moves past the previous day’s high or low, then the market will continue in that direction of breakout. Note that with this strategy, the time period of consideration is one day. Therefore, this strategy can do well for day traders who close out all their positions in the forex market before the end of the day. Usually, in a forex chart, there is a point that shows the highest the value of a currency pair has ever reached considering a period of time, and there is also a point that shows the lowest value of the currency within the same period of time. These are known as the highest high and the lowest low, or the resistance and support level. Given to the volatile nature of the market, it is possible for the price of a currency pair to move above or below the previous day’s resistance and support levels. When this happens, there is said to be a breakout in the trade. The general idea of the forex high and low strategy is that the kind of breakout explained above happen almost on a daily basis. If this is the case, it will be wise to pattern a strategy that will take advantage of this frequent occurrence; thus the forex high and low strategy.
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by MAFX24
support zone Support Support is an area on a chart that price has dropped to but struggled to break below. The diagram above shows how price drops down to the area of support and subsequently ‘bounces’ sharply from this level. In theory, support is the price level at which demand (buying power) is strong enough to prevent the price from declining further. The rationale is that, as the price gets closer and closer to support, and becomes cheaper in the process, buyers see a better deal, and are more likely to buy. Sellers become less likely to sell, since they are getting a worse deal. In that scenario, demand (buyers) will overcome supply (sellers) and that will prohibit price from falling below support.
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by MAFX24