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Support and Resistance Forex Trading | Ep. 018

Support and Resistance Forex Trading The Forex Warrior Podcast

Welcome to the Forex Warrior Podcast! This week’s show is a special video podcast. Today, Jason talks about Support and Resistance Forex Trading and what this means to you as a Forex trader.

You can download the episode as an audio version but this episode is best viewed visually.

Support and resistance has been around a long time. In this episode, Jason explains it, the history of it and what it can mean for your trading.  This episode talks about using this technique to improve your forex trading game with a better analysis of the charts.

A lot of people understand support and resistance but they don’t understand the intricacies within it and how important it can be to being a successful longterm consistent and profitable trader.

Support and Resistance Defined

What is it? Support is defined as the level on a trading chart that acts as a barrier or floor in the price. It is an area that price has had difficulty falling below or moving lower than in the past.

Resistance is the opposite of support. Resistance is a level on a trading chart that acts as a barrier or ceiling in price. It is an area that price has had a difficulty in rising above or breaking out higher than in the past.

An Example of Support

It’s important to see the visual at this point in Jason’s example of the Austrailian US Dollar one-day time frame. You can see that the support area does not have to be aligned. It can actually be a zone that proves to be support over time. Even though it’s not an exact line, it’s still very important as far as support is concerned.

To hear the rest of Jason’s tips, download and listen to Support and Resistance Forex Trading!

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About the author, Jason Gospodarek

Dr. Jason Gospodarek has successfully managed several forex related websites for nearly 14 years, has been a mentor and daily live forex streamer on a leading forex educational website, and has helped to launch two forex brokerage firms. He has been involved in the money management side of the business as well as the back end and setup of metatrader liquidity pools over the years. Although he manages his own funds in the currency markets, he also helps lead new and seasoned traders down their path to trading success. While all his trading is done live currently, he has worked to create and have his own automated trading robots (EAs), as well as fully customized trade copying software, created. He is also the founder of the popular podcast "The Forex Warrior".

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