In this video, you will learn about how to apply support and resistance along with candlestick analysis on your chart. For example, look at the EUR/USD daily chart. After five days of gain, the market forms a doji candlestick, which means indecision. This doji is formed at the 1.4409 level, which acts as
As you can see, the pair has failed to break above two times previously. The level 1.4409 comes close to 1.4400, which is a round number. The more zeroes, the more psychologically significant, the level becomes.
After the doji, the pair made a false breakout to the upside, then pulled back to fall down. This level acted as resistance once again. Buyers took profit at this level from the previous move higher. Hence, as a trader, you should pay attention to the