The spot forex is a support and resistance market. Whatever tools and indicators you are using to trade the spot forex market, the
experience can be greatly enhanced by understanding near term support and
resistance along with longer term support and resistance for the of interest.
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Every spot forex trader and the major institutions are
watching critical areas of support and resistance on the various pairs. If any major
pair breaks through a critical support or resistance number it makes news
everywhere on the forex newswires or on national and global news shows.
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Support and resistance is somewhat repetitive, the major
support and resistance numbers tend to
repeat themselves over time as the pairs range or trend up and down.
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Monitoring the critical areas of short term or long term
support and resistance on the , get a lot more sleep and still be in the know as to when
your favorite pairs are moving.
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About the author
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 Mark Mc Donnell is
the lead trading plan writer for www.forexearlywarning.com,
an inexpensive trading plans service available to all spot forex traders. He
has many years of experience trading stocks, equity options and the spot forex.
He has spent the last four years of his career devoted solely in studying the
movements of the spot forex, conducting trend analysis, and determining how
this impacts retail level forex traders. Mark is also the developer of www.theforexheatmap.com, which
monitors 20 currency pairs in real time and tells you the best pair to trade. ©
Copyright 2007
Tags: author mark, critical areas, critical support, currency pairs, equity options, global news, institutions, mc donnell, newswires, plan writer, real time, resistance, retail level, sleep, spot forex, trading stocks, trend analysis