The financial markets are in a constant state of affirming, breaking, and developing new support and resistance areas. Traders use a variety of methods to project support and resistance points based on past price action. However, the question of whether those areas will hold or break in real time is a much more difficult calculation. In The RDS Forex System, former pit trader Michael Radkay provides forex traders with a unique system for identifying support and resistance zones in the foreign currency market and developing profitable trading strategies around those zones.
The system uses market volatility, momentum, and chart patterns to calculate support and resistance zones. As prices reach a specific zone objective, trading strategies are put in place to profit from the next movement. The book will show how this system gives traders a continuous sense of the market's directional bias, identifies potential turning points, and recommends levels to take profits off the table.
- Highlights the Rotating Directional System (RDS), a computer-based, longer-term application of the methodology used by many successful pit traders
- Discusses how to use a variety of indicators to identify support and resistance areas
- Reveals strategies employed to profit from market swings
The RDS Forex System is an ideal guide for retail traders actively involved in the forex market.
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