Candlestick Express ClassAdvertisement for Candlestick Express Class

Using support and resistance on daily charts

by Prasanna
(Mumbai ,India)

Plot support & resistance on daily charts, you can also use FRACTALS for this.
STOCH. ( 14 5 5 ) for overbought & oversold levels.
For BUY : BULLISH CANDLE at support level & STOCH in oversold moving upwards from 20 , Stop Loss below latest swing low FRACTAL
Take Profit : RESISTANCE ZONE.
For SELL : BEARISH CANDLE @ RESISTANCE LEVEL & STOCH ( 14 5 5 ) in overbought , moving downwards from 80.SL above latest Swing high FRACTAL.
Take Profit : SUPPORT ZONE.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Forex trading strategy articles.

Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.