XM – What are supports and resistances and how to use them?
This video will help the viewers understand what supports and resistances are, why they are the building blocks of price action trading, and why it’s crucial to understand them to become a good trader. Not only do supports and resistances help traders understand where important reversal zones may be, but they can also present good trading opportunities with a low-risk and favorable RR ratio. While they may seem a little challenging at first, identifying the important zones can become a relatively easy task with practice. Let’s learn more about them today!
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