What are the key differences between horizontal support and resistance levels and dynamic ones created by trend lines in forex trading, and how do you use each type to enhance your trading decisions?
Has anyone here used the Ocean Wave trading system to trade during periods of high market volatility? If so, how did you adjust your strategy to account for sharp price movements and potential whipsaws?
How do you determine the significance of a support or resistance level in forex trading? Do you rely solely on the number of times a level has been tested, or do other factors like volume and time frames play a role?
How do you effectively use Fibonacci retracement levels as part of a forex trading strategy to identify potential support and resistance levels, and how do they integrate with other technical indicators?
In your experience, what are the best forex indicators to combine with support and resistance levels for confirming breakouts or trend reversals, and how do you determine the strength of these signals?