How do I know if I’m plotting support and resistance properly?
To know that you need to recognize price levels properly. When a price is rejected few times from a particular price that price level becomes a support or resistance. Do some study.
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Check out the support and resistance lesson in the School of Pipsology. Hope it helps!
as a new Forex trader i used support and resistance , really it worked. but when started a real account it stopped working.
I am not sure whether there is another way of confirming it other than your trade results. When you start to trade, you will yourself get to know whether you have plotted support and resistance properly or not.
Traders must use a fixed and defined methodology for drawing s/r lines. If not, it will be impossible to track performance and improve your technique.
This could take years. It could be a complete waste of time.
I am not sure whether there is another way of confirming it other than your trade results. When you start to trade, you will yourself get to know whether you have plotted support and resistance properly or not.