Support and resistance trading — busting the 3 biggest myths about Support and Resistance | Forex
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For free trading education, go to http://www.tradingwithrayner.com Have you faced this issue when trading support and resistance? You try to go long at support, but your order isn’t filled. Or perhaps… You go long at support and got stopped out, only to watch price reverse and hit your target profit? Don’t worry, you’re not alone. In this video post, I’ll crack the 3 biggest myths behind Support and Resistance. Once you’ve learnt the truth, you’ll never trade Support and Resistance the same way again. I hope you’ve enjoyed this week’s video post. As always, comments are welcomed and encouraged. Cheers!
Comments
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Very useful info Rayner....Thanx
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I must say so too Rayner you are a great teacher. I have watched MANY forex videos and this one I would say is a top ten and I been at it for a while. Look forward to watching you other videos. It is weird how I stumbled across your video. Late friday nite I was just playing videos all night on S & R and I was falling asleep between and when I woke up I saw heard you teaching. :)
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really help. TQ
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I am a DAX breakout trader and agree with Rayner - 1) Sometimes the price bursts through the Lines of resistance and lines of support - happy days! 2) More often than not the price breaks through 5-6 points - withdraws back over the Line of Support and Resistance - and then finally breaks through for a breakout without me on board!! It your stops are not set correctly you can easily be taken out b 3) 50% of the time the price rebounds and takes me out. I have found this article helpful as I have always viewed the support / resistance areas as being a line - and not an area .I am sure that this new insight will improve my results.
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I like you bro. Thanks.
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wow...i watched a lot of forex videos and must say your an excellent teacher...i was forced to subscribe to you...thanks
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Good information Rayner, Thanks.
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Rayner, As with support, Would it be conversely true that the more times resistance is tested the weaker it becomes?
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what r ur views will i be able to make money
is it a good business -
dear rayner
may be I start trading soon -
it was great watching your
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You are an amazing teacher..... and very kind, and you find the time to respond to comments on your channel. Keep up the good work, Kudos to you ....
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amazing Video... and lots of good videos of yours... thank you very much... :)
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These are amazing videos that you have provided for us!! Thank you very much!!
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Hi, so where should we place the stoploss? than
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Hi Rayner Teo,Thank you so much for excellent and very easy to understand for new trader. I wish you good luck and thanks for helping like me to improve knowledge where most of them can't explain like you.
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good sir
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Well, as the saying goes: "Each to their own". What you described in this video is not Sup/Res but Demand & Supply ZONES. There is quite a difference to support & Res LEVELS. Apart from that what you said about SL-Hunt is generally correct even if I see such as an aggressive price move into a direction only to pull-back within that time frame forming mostly a "Long-Legged-Doji". That is for me a StopLossHunt. But as I wrote above each to their own ;)
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Good job!
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Good job Sir