Forex DOSR Technique Support and Resistance line on Last Daily Candle

What is it?

DOSR stands for Day Open Support and Resistance and is a widely used technique by forex traders to identify key support and resistance levels on a daily time frame. It involves drawing a support line at the lowest price of the day and a resistance line at the highest price of the day on a candlestick chart.

How is Used?

DOSR technique is mainly used to: - Identify potential trade opportunities by looking for price action near the support and resistance lines. - Determine the overall trend of the market by observing the location of price action relative to these lines. - Set stop-loss and take-profit levels for trades.

Key Features:

- Easy to understand and apply. - Provides a quick overview of daily support and resistance levels. - Helps traders identify potential trading opportunities. - Can be combined with other technical analysis tools to enhance trading decisions.

Benefits:

- Simple and straightforward technique. - No complex calculations required. - Can be used on any currency pair or time frame. - Provides valuable insights into market structure. - Helps traders avoid trading against the trend.

Product Features:

- Clear and concise instructions on how to apply the DOSR technique. - Examples of real-life trades using the DOSR technique. - Discussion of the limitations and potential drawbacks of the technique. - Recommendations on how to use the DOSR technique in combination with other trading tools. - Links to additional resources on the DOSR technique.

Day Open Support and Resistance (DOSR) - BabyPips.com

The DOSR (Day Open Support / Resistance) Method - Forex Factory

Using DOSR (Day Open Support and Resistance) in Forex Trading