Many traders new to technical trading struggle in the beginning and one of the basics they struggle with is finding support and resistance. This blog was made to help with exactly that.
You have to pay close attention to one thing on the chart if you trade naked: price. Price is king. Price will tell you all you need to know. The market will tell you where the critical area is on the chart. This critical area will be the foundation for everything you do as a naked trader. A critical area on the chart is a support and resistance zone. You may be familiar with the concept of support and resistance; however, support and resistance zones are different from what many traders characterize as support and resistance. I will call these support and resistance zones by one word— zones. There are five important characteristics of zones that Forex Chasers teaches on and in this blog post I will share only two:
1. Zones are an area, not a price point.
2. Zones are spots on the chart where...