Set a Stop Using Support and Resistance

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Set a Stop Using Support and Resistance

Support

Use only when you are Going Long

Spare a few PIPs

Find an appropriate Support level so that you do not lose money

Resistance

Use only when you are Going Short

Spare a few PIPs

Find a relevant Resistance Level to stop an order

Stop Order - When you buy or sell a currency pair that is set to close a trade and usually at an acceptable - minimal - loss

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