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Hi,
Al says S/R is not precise at Forex market because every broker has its own data(own price)
1. I think the traders can choose specific broker and trade base upon it’s prices.so the price can precise base upon one broker.
And most important question is :
2. Have we problems with MM or trend line or any support and resistance when the price is not precise ? for example MM on Emini is precise and on Forex is not precise ?
gratefully
The strength of the magnets resides in the fact that everyone sees them. If there is one and unique price, like in the emini, all institutions use it to calculate the S/R. Rather, in forex, having different (but very similar) prices each institution calculates the S/R based on its price only. All calculations will converge into one price but will not be the exact same price, thus making the S/R less precise.
For your everyday trading, I would not bother... use the chart in front of you to draw the S/R and trade it accordingly.
