Trading 103: Refining Your Trading Bias with Key Price Levels on MT5

Step 1: Marking Key Price Levels on MT5

1. Support & Resistance Levels

Support: A level where price has previously bounced up.
Resistance: A level where price has previously been rejected downward.

How to Identify on MT5:

Open your chart and switch to a higher timeframe (H1 or H4).

Look for areas where price repeatedly reversed.

Use the Horizontal Line Tool (Insert > Objects > Horizontal Line) to mark these levels.

Switch back to your trading timeframe (M5 or M15) and see how price reacts near these levels.

🚀 Tip: The more times price touches a level and reverses, the stronger it is.

2. Psychological (Round Number) Levels

These are price levels that end in .00 or .50 (e.g., 1.1000, 1.1050 for EUR/USD). Traders naturally place orders around these levels, making them strong areas of interest.

How to Use on MT5:

Open Market Watch (Ctrl+M) to see current price.

Add horizontal lines at round numbers near the current price.

💡 Example:
If EUR/USD is at 1.1032, mark 1.1000 and 1.1050 to see if price reacts at these levels.

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