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In 2016, Nial won the Million Dollar Trader Competition. Todays Video Talks about how to Draw Support and Resistance on Your Forex Charts. Every Sunday, traders should draw support and resistance levels and plan the trading week ahead, it’s something I have done for years, and it works! This video will explain how to draw the levels correctly on the EURUSD currency pair. This video discusses how to draw support and resistance levels on your charts in order to plan for the upcoming trading week.
Every Sunday afternoon I take the time to go through the charts and plot my key support and resistance levels, look for any relevant price action, turning points or swing points. The best thing you can do is plot your levels out on the daily chart before the week begins and every day after the markets close in New York. I marked 6 key levels or swing points on the chart in this video, however that’s not enough, we also need to draw in horizontal lines to connect these key market swing points. Thank you nial i will practice so much. Hi Nial, though am new in the world of forex, your tutorials have so far encouraged me to venture further into trading safely. I will be taking keen interests in the market change and master one price action strategy and apply it. Just a newbie, planning to start trading in the New Year.