IDENTIFYING SUPPORT & RESISTANCE

What do we see from the image above to determine Support & Resistance?

If the Support or Resistance area is always tested, and the price is not successfully penetrated (break), then the stronger the area, it can be said to be a major Support/ Resistance area.

Price is currently in the area between major Support/ Resistance. There must be an area that will also be a point back which can be said as a minor Support/minor Resistance area.

If the Resistance area is successfully penetrated (break), then the area has the potential to become a Support area. Vice versa.
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15 pips sl 😞

⚔️⚔️ Friday amazing Report in Premium Channel ⚔️⚔️

Usdcad +95 ✅ Tp1,Tp2,Tp3,Tp4
Gold +105 ✅ Tp1,Tp2, Tp3
Silver +65 ✅ Tp1
Chfjpy +165 ✅ Tp1,Tp2, Tp3, Tp4
Usdjpy +115 ✅ Tp1,Tp2, Tp3, Tp4
Nzdchf -15 sl
Nzdjpy +85 ✅ Tp1,Tp2, Tp3
Gbpaud +295 ✅ Tp1,Tp2,Tp3,Tp4

Total Pips = +940pips
Red Pips = -15 sl Pips

Total = +925 pips

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⚔️⚔️ ⚔️⚔️ Weekly Achievements ( 13/06/2022-17/06/2022)⚔️⚔️

⚔️⚔️ Monday Gains⚔️⚔️

Usdcad +65 ✅ Tp1,Tp2,Tp3
Gold ✅ Hold
Silver ✅ Hold
Chfjpy +65 ✅ Tp1,Tp2,Tp3
Usdjpy +85 ✅ Tp1,Tp2,Tp3
Nzdchf ✅ Hold
Nzdjpy +60 ✅ Tp1,Tp2,Tp3
Gbpaud +75 ✅ Tp1,Tp2,Tp3

Total Pips = +350pips
Red Pips = -0 sl Pips

Total = +350 pips

⚔️⚔️ Tuesday Gains ⚔️⚔️

Usdcad +71 ✅ Tp1,Tp2,Tp3
Gold +65 ✅ Tp1
Silver +155 ✅ Tp1,Tp2
Chfjpy +135 ✅ Tp1,Tp2,Tp3,Tp4
Usdjpy +75 ✅ Tp1,Tp2,Tp3
Nzdchf +20 ✅ Tp1
Nzdjpy +75 ✅ Tp1,Tp2,Tp3
Gbpaud +115 ✅ Tp1,Tp2,Tp3,Tp4

Total Pips = +711pips
Red Pips = -0 sl Pips

Total = +711 pips

⚔️⚔️ Wednesday Gains ⚔️⚔️

Usdcad +65 ✅ Tp1,Tp2,Tp3
Gold +215 ✅ Tp1,Tp2,Tp3,Tp4
Silver +345 ✅ Tp1,Tp2, Tp3, Tp4
Chfjpy +25 ✅ Running Hold
Usdjpy +55 ✅ Tp1,Tp2,Tp3
Nzdchf +105 ✅ Tp1,Tp2,Tp3
Nzdjpy +25 ✅ Running Hold
Gbpaud +55 ✅ Tp1,Tp2,Tp3

Total Pips = +890pips
Red Pips = -0 sl Pips

Total = +890 pips


⚔️⚔️ Thursday Gains ⚔️⚔️

Usdcad +115 ✅ Tp1,Tp2,Tp3,Tp4
Gold -50 sl
Silver -35 sl
Chfjpy +205 ✅ Tp1,Tp2, Tp3, Tp4
Usdjpy -20 sl
Nzdchf -30 sl
Nzdjpy -20 sl
Gbpaud +115 ✅ Tp1,Tp2,Tp3,Tp4

Total Pips = +590pips
Red Pips = -155 sl Pips

Total = +435 pips

⚔️⚔️ Friday Gains ⚔️⚔️

Usdcad +95 ✅ Tp1,Tp2,Tp3,Tp4
Gold +105 ✅ Tp1,Tp2, Tp3
Silver +65 ✅ Tp1
Chfjpy +165 ✅ Tp1,Tp2, Tp3, Tp4
Usdjpy +115 ✅ Tp1,Tp2, Tp3, Tp4
Nzdchf -15 sl
Nzdjpy +85 ✅ Tp1,Tp2, Tp3
Gbpaud +295 ✅ Tp1,Tp2,Tp3,Tp4

Total Pips = +940pips
Red Pips = -15 sl Pips

Total = +925 pips

Total Gains —>

MONDAY +350✅
TUESDAY + 711✅
WEDNESDAY +890✅
THURSDAY +435✅
FRIDAY +925✅

TOTAL GAIN PIPES +3,311✅


Total Loss -->

MONDAY 0- ✅
TUESDAY 0- ✅
WEDNESDAY 0- ✅
THURSDAY 155- ✅
FRIDAY 15- ✅

TOTAL LOSSED PIPES 170- ✅

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TWO TYPES OF MARKET TRENDS:

1. Bullish/Uptrend = Upwards
2. Bearish/Downtrend = Downwards

Uptrend :
- Market goes higher from previous prices and make a new high

- HH means Higher High, meanwhile HL means Higher Low.

- Distance betwwen HH and HL is known as retrace dan the trend is BULLISH TREND

Downtrend :

- Market goes lower than previous prices and make a new low.

-LH mean Lower High meanwhile LL means Lower Low.

- Distance between LH and LL is known as retrace and the trend is BEARISH TREND
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Daily Free Signals & Analysis- t.me/goldsnipper
Website- https://www.tradingwithmragarwal.com

How to draw trendline ?

You need to pull from LOW to LOW

Black line Trendline Support
Black box Retest/Retrace area

Price break the black line (trendline support) indicate the price want to change its direction after the price breakout.

Entry area is in the black box where the price retest at Support Become Resistance (SBR) area.
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Daily Free Signals & Analysis- t.me/goldsnipper
Website- https://www.tradingwithmragarwal.com

HEAD & SHOULDER

There are two types of Head & Shoulder pattern :
1- Head & Shoulder
2- Inverted Head & Shoulder

Head & Shoulder functioned as a pattern for us to look for selling positions. We will sell when we see the first formation of Shoulder and Head. So the sell positions will be on the 2nd Shoulder

Head & Shoulder : Only for sell

Inverted Head & Shoulder also functions the same but we will look for buying position on the 2nd Shoulder formation.

Inverted Head & Shoulder : Only for buy
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Daily Free Signals & Analysis- t.me/goldsnipper
Website- https://www.tradingwithmragarwal.com

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Support & Resistance

Before i teach you guys specifically. Let me introduce you guys first on what is support and resistance(SnR):-

SUPPORT is a place where we find opportunity to enter BUY positions because support is the place where there are strong demands to buy a currency. This will causes the price stops from going down.

RESISTANCE is a place where wfind oppurtunity to enter SELL positions because resistance is the place where there are strong supplies to sell a currency. This causes the price stops from going above.

There are also two types of Suppor and Resistance :-

Support :
- strong support
- weak support

Resistance :
- strong resistance
- weak resistance

Support and resistance also can change when there’s a breakout(bo) happened:-

Support breakout = support becomes resistance(SBR)

Resistance breakout = resistance becomes support(RBS)
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