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Book Summary: Support And Resistance Trading Strategy PDF
Rayner Teo’s “Support And Resistance Trading Strategy” unveils essential truths and actionable insights for traders navigating the dynamic world of support and resistance (SR) levels. Teo begins by dispelling common misconceptions, emphasizing that SR areas on a chart are not rigid lines but dynamic zones influenced by market behavior.
The book elucidates how repeated testing of SR weakens their significance and highlights the importance of understanding price dynamics around these levels. Teo introduces techniques like using moving averages and trendlines to identify dynamic SR areas and emphasizes setting stop-loss orders at a distance from SR to avoid being trapped by false breakouts.
Furthermore, Teo explores the relationship between SR and market trends, guiding recognizing signals for potential breakout or reversal opportunities. He introduces a practical trading strategy that capitalizes on the behavior of losing traders around SR levels, offering traders a competitive edge in the markets.
In conclusion, Teo encourages readers to apply the principles and strategies outlined in the book to enhance their trading skills and achieve more consistent results. With its blend of insightful truths and actionable techniques, “Support And Resistance Trading Strategy” serves as an invaluable resource for traders seeking to master this essential aspect of technical analysis.
You can download the Support And Resistance Trading Strategy PDF through the link given below.
Excerpts From the Book
A SUPPORT AND RESISTANCE TRADING STRATEGY THAT LETS YOU PROFIT FROM LOSING TRADERS
Here’s a fact: Support and Resistance attract a lot of attention from traders. There will be some looking to trade the reversal, and others looking to trade the breakout. Since trading is a zero-sum game… for reversal traders to profit – breakout traders must lose. And for breakout traders to profit – reversal traders must lose. Do you understand? Good. Now… let’s learn a Support and Resistance trading strategy to profit from breakout traders. Here’s what you need to do:
- Mark your areas of Support & Resistance (SR)
- Wait for a directional move into SR
- Wait for price rejection at SR
- Enter on the next candle with stop loss beyond the swing high/low
- Take profits at the swing high/low