Technical analysis education
Our good friend Yohay at Forexcrunch.com has an article up today on How to Use Horizontal Levels and Price Action to Trade Forex.
Support and resistance levels are one of the simplest and most important things to learn when trading. Learning to read the levels helps with gauging price action and once mastered you should be able to see the lines naturally without the need for indicators on your chart.
Of course, being able to see something physical on your charts is a help too.
When I was trading in the pits we didn’t have our own chart trading screens so my levels were done the old fashioned way, by paper and pencil.
Here’s one of my cards from way back, as it was the very day I left the floor.
The “Tree-lead” trading indicator
