In this morning’s session once again we focus on some of the key concepts of support and resistance using the accumulation and distribution indicator for NinjaTrader and the dynamic support and resistance indicator for MT4/5. The AUD/USD provides some good examples from the faster to the slower timeframes as the pair tests a strong level of support in the session on the 60 minute chart.
One of the many trading concepts we also discuss is using multiple timeframes to search out the levels in higher and lower timeframes. Finally we also look at support and resistance from the aspect of overbought and oversold with the currency strength indicator for NinjaTrader.