This is an easy little strategy to follow. It involves pinpointing major support and resistance point. You can use fibonacci retracements for these. Then when price hits a 
major support point, go long. Whenever it hits a major resistance point, go short.
Tight stops must be used as well as small take profits. This allows the trader to capitalize on the “bounce�.
There is usually at least a small bounce at major support and resistance points. It would be a good a idea to use a broker with a small spread for this strategy so the spreads don’t eat into your profits too much.
This is a good forex strategy with a lot of potential, but be sure to try it on a demo account first. If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills.
major support point, go long. Whenever it hits a major resistance point, go short.Tight stops must be used as well as small take profits. This allows the trader to capitalize on the “bounce�.
There is usually at least a small bounce at major support and resistance points. It would be a good a idea to use a broker with a small spread for this strategy so the spreads don’t eat into your profits too much.
This is a good forex strategy with a lot of potential, but be sure to try it on a demo account first. If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills.
No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.
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