What About Resistant And Support?

Resistant and support are two significant element in forex analysis. Ability to determine support and resistant line is crucial to become a successful trader. So, I will take this two elements into consideration. One thing to understand, when support is broken, it will turn into a new resistant, and so when resistant is broken, it will turn into a new support.

Well, let's take this idea into practice. Take a look at the chart below. It's GBPUSD H4 chart. Based on my technical analysis, this pair will move up to test a broken support which turn into resistant at 1.5836 level. So, I set a pending order to buy this pair at 1.5595 support line. This is my trade idea for next week which taken resistant and support into consideration.

Stay tune for the trade result.