Support and Resistance is the basis of most technical analysis chart patterns whether you trade forex, the indices, commodity futures, options or stocks. Yes Virginia, you really do need to be able to recognize it if you want a low risk, sensible way to trade based on what you see in the charts.
Areas of price congestion that create most well known chart formations are nothing more than levels of Support or Resistance. In fact, just about every technical trading system or method uses S&R, whether their authors admit it or not!
Using Support and Resistance to make better Trading Decisions
Support and Resistance is not a new fangled, latest flavor of the month trading system at all…these levels have been around since before Jesse Livermore was but a twinkle in his daddy’s eye. It’s not exactly rocket science to identify Support and Resistance, and it can be applied to any market: stocks, commodity futures and options, spread trading, forex, ETFs and single stock futures too.
That’s the good news.
The bad news is that there’s a lot of “tip of the iceberg” canned information out there that’s just plain inadequate. You’re going to have to put in some time getting a “feel” for Support and Resistance on your charts. (Alternatively, you could just have Erich give you his support and resistance levels for each day)
The cool thing about Support and Resistance is that with a bit of practice you can see it clearly on any type of chart, so there’s no need to make a life-altering decision. The keyword here is practice.
We Have You Covered!
NOTHING will replace good old chart watching, but the other good news is, we have you covered. Erich Senft, CTA is a very experienced and well known Support and Resistance practitioner: he is passionate about S&R. He is also passionately dedicated to his students – just ask any one of them.
You are NEVER left alone with course materials to muddle your way through. Erich is ALWAYS available to answer your questions and concerns, and show you step by step in exquisite detail exactly how he approaches each trade, each market. Need help with entries, exits and stops? Ask Erich!
Detailed Trade Management
Every day, Erich sends out a selection of market analyses with detailed trade management information. You never have to guess at how he arrives at his analysis, where he’d put his stops and why. You can discuss these trades and ask questions any time on the IWH Trading Forum. You get to see his charts, trades and see his commentary. Any questions you have, feel free to ask.
Every Sunday the aptly named Traders Helping Traders Big Weekend Edition is published. It’s in full color with charts for every market covered with the usual highly detailed analysis: entries, exits, stop placement, order types and detailed trade management.
In addition, you also get a video lesson du jour with tips, tricks and tutorials. Every weekday after that, you get an update so you can see how the trades progress, what management decisions are made, and why. You are left in no doubt as to how Erich makes his analysis and manages his trades. Three words: Relentless Trade Management!
This is a very much beloved service with loyal subscribers who have been with us for many years.
1. Monthly full access to the Traders Helping Traders members area
2. Erich’s Support and Resistance Trading Manual – Free with at least 2 month’s subscription.
3. Big Weekend Edition of the eZine!
4, Daily trade alerts
5. Recorded webinars for those who can’t attend
6. Access to all reports, videos, lessons, articles and archives on the private site
7. Unlimited support, 24/7
Unfortunately, this service is not available to anyone at any price.
For a limited time, all you need to do to get the Big Weekend Edition and Daily Trade Updates delivered absolutely free to your inbox is fill in the little boxes in the sidebar to the right and click the happy yellow button.