Part2b By combining different technical tools, Forex traders are able to perform a detailed chart analysis of Forex pairs to ultimately hone in on the best trading opportunities on their chosen timeframe.

Support and Resistance as a Primary Technical Analysis Tool
If you want to learn technical analysis, you should start with understanding what support and resistance is.

Support and resistance are psychological levels on the chart. These are levels which the price action tends to conform to. If the price creates a top at a certain exchange rate, an eventual return to this level often causes the price action to hesitate. Sometimes the price breaks the level and continues its progress.

However, in many cases reaching an already created level might cause the price to bounce. For this reason traders use support and resistance levels for entry and exit points of their trades. But what is the difference between support and resistance

Crypto/forex trader, content creator & member of @baseafrica

Support and resistance levels are key in technical analysis for Forex trading. Understanding their significance can greatly enhance trading strategies. Keep honing those chart analysis skills for better trading outcomes! 📈💼 