Hi Mark, you mentioned a couple of times about daily support. I remember you mentioning one of the trading days (during this month) that you have daily support on 1.4750 and sometime last month when we were selling on rallies you mentioned that there is a daily resistance at 1.4815. So, where do you get your daily support and resistance from? Is it from pivot point calculation or from resistance and support from daily charts.
Thanks.
Legal Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Read Risk Warning.
Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results. Currency trading involves high risk and you can lose a lot of money. By using PipHut.com, any of it services (including CandlePro, Premium, the free analysis or any part of the website) you agree to these "Terms of Use".. Read Full "Terms of Use" here
Hi Mark, you mentioned a couple of times about daily support. I remember you mentioning one of the trading days (during this month) that you have daily support on 1.4750 and sometime last month when we were selling on rallies you mentioned that there is a daily resistance at 1.4815. So, where do you get your daily support and resistance from? Is it from pivot point calculation or from resistance and support from daily charts.
Thanks.
Nnagozie, see my “FAQ for forex signals” #7, ‘how do you determine support/resistance’.
http://piphut.com/about/faq-for-free-forex-signals/
P.S. How do you pronounce your name?
Dont know how to write this but my name is pronounced Nna-go-zie from Nigeria, got it?
Hi Mark, I just learnt that there are pivot on every tf with many patterns, e.g. standard, woodie etc.
I started to get confused how to use them. Your clarification will be a great help.
Thanks,
Penny