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Forex & Stocks Support-Resistance Bounce and Break Trading Strategy


All traders on Wall Street and any stock exchange worldwide pay attention to support and resistance areas. Therefore, it cannot be avoided that support and resistance are extremely useful for all traders, whether they are professional traders or beginners, and you must thoroughly understand how to determine the right support and resistance area.

Trading NOTES

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It has been proven that the Support and Resistance I will teach in this article highly powerful and effective in increasing the accuracy of your trading, just like how traders on Wall Street use it. Therefore, there is no other choice but for you to master it well.

Trade the “Bounce” & the “Break”

In the most basic way, this is how support and resistance are normally traded:

Trade the “Bounce”

  • Buy when the price falls towards support.
  • Sell when the price rises towards resistance.

 

Trade the “Break”

  • Buy when the price breaks up through resistance.
  • Sell when the price breaks down through support.

Auto Support & Resistance Indicator

Every trader on Wall Street and any stock exchange worldwide pays attention to support and resistance areas. Therefore, it’s evident that the auto support and resistance indicator is highly useful for all traders, both professional and novice.


By using this indicator, you won’t struggle anymore to find the best market to enter on any given day. As illustrated in example above, I always choose markets where the support and resistance areas are clearly formed for me to trade.

With the help of the auto support and resistance indicator, this task becomes remarkably easy and fast, even if you have to analyze hundreds or even thousands of stocks every day. It has been proven that this tool is incredibly powerful and effective in improving the accuracy of your trading.

How to install the “TraderVersity Support-Resistance System
  • Download “TraderVersity-SupportResistanceSystem” (Zip/RAR File).
  • Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
  • Copy the “TraderVersity-SupportResistanceSystem.tpl” file (template) to your Metatrader Directory …/templates /
  • Start or restart your Metatrader Client.
  • Select Chart and Timeframe where you want to test your forex system.
  • Right-click on your trading chart and hover on “Template”.
  • Move right to select “TraderVersity-SupportResistanceSystem” trading system and strategy.
  • You will see the “TraderVersity-SupportResistanceSystem” system is available on your Chart.

Support & Resistance trading strategy

Now… let’s learn a Support and Resistance trading strategy to profit from breakout traders.

Here’s what you need to do:

  • 1. Mark your areas of Support & Resistance
  • 2. Wait for a directional move into SR
  • 3. Wait for price rejection at SR
  • 4. Enter on the next candle with stop loss beyond the swing high/low
  • 5. Take profits at the swing high/low

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