Since the level of profit earned per trade can be small, many traders seek out more liquid markets to increase the frequency of their trades. A popular 60-second option trading strategy involves detecting the moment a price clearly rebounds, against either an identifiable resistance or support level. Receive a free $10,000 DEMO today, and try the V-Bounce strategy!
Role of Support and Resistance
Support and resistance (S&R) is a key factor in trading with Alpari Fx-Pro
Once a price reaches pre-determined support or resistance levels, traders are able to mark the zone as a “bounce or break spot”.
There are various ways for Alpari Fx-Pro
traders to identify the support and resistance zone (testing the usefulness of their S&R identification is important).
Many elements can be considered as support and resistance; here is a list with a few examples:
- Tops and bottoms.
- Trend lines.
- Trend channels.
- Fibonacci retracements.
- Fibonacci targets and extensions.
- Chart patterns.