How to Trade

Failure at Resistance

Most traders love a break out, nothing feels better as you see the sellers crumble and give up. So you’re long and they are wrong!

The problem, of course is that support and resistance more often than not holds. These chart points are the starting areas of daily reversal.

Last Friday July 22 gave a late opportunity for me in GBPUSD at 1.2040/60.

Chart from http://www.eightdragonscapital.com

I don’t trade every day, but every time I trade I use Point & Figure Charts

contact support@8dcglobal.com to learn how.

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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