Hi All, today we are going to discuss the simple way how to draw support and resistance horizontal lines, levels, and zones, What to look for, how to try to profit from that. Working fine on each timeframe, it is for medium-term traders, as well as for day traders and scalpers. As usual please do your own research before risking real money. Enjoy!
As it was in 2022, we still continue our series with simple and profitable strategies for rookie traders. This one in particular is a combination of 3 indicators: Bollinger Bands, exponential moving average and Stochastic indicator. What is important while using such methods is that - yes in the future you might change the rules and add some other variables but in the beginning it is not a wise thing to do which I’m explaining also on examples.
- Can you make profit with this strategy? Sure thing you can.
- Is it easy to use? I’d say it is dead easy.
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