What is Support SUPPORT Support is like a

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What is Support SUPPORT Support is like a wall that the price hits and

What is Support SUPPORT Support is like a wall that the price hits and bounces upward after getting near or close to the price Support is determined by looking at multiple times in the past the price tested this wall and couldn’t push through

What is Resistance is like a wall that the price hits and bounces downward

What is Resistance is like a wall that the price hits and bounces downward after getting near or close to the price Resistance is determined by looking at multiple times in the past the price tested this wall and couldn’t push through

Chart Tips Start with you larger charts EX. Daily, Weekly, Monthly to identify major

Chart Tips Start with you larger charts EX. Daily, Weekly, Monthly to identify major support and resistance Begin replicating these lines on your smaller charts and identifying smaller support and resistance levels EX. Move to a 240 m, then to a 60 m, 30 m, 5 m etc. Remember the only real support and resistance you are really interested in when day trading is the one directly above and below the current price

Green Chart Use Horizontal Rays to draw your support and resistance levels Simply click

Green Chart Use Horizontal Rays to draw your support and resistance levels Simply click the Tools header in Green Chart and click Horizontal Ray

Stay out of Trades Avoid Long Trades Avoid Short Trades When near or approaching

Stay out of Trades Avoid Long Trades Avoid Short Trades When near or approaching a resistance level you want to avoid long trades When near or approaching a support level you want to avoid short trades

Placing your Exit or Take Profit Avoid placing your exit above resistance Avoid placing

Placing your Exit or Take Profit Avoid placing your exit above resistance Avoid placing your exit below support When placing a trade avoid placing your exit or take profit above resistance and below support This will help the likelihood of getting your trade filled

Support or Resistance Break Broke Resistance Broke Support When Resistance or Support has been

Support or Resistance Break Broke Resistance Broke Support When Resistance or Support has been broken it is key to make sure that it isn’t just peaking out a little as broke Once it is clear that the Resistance or Support has been broke Support now becomes Resistance because price is now below line Resistance now becomes Support because price is now above line

Items we will review How to visually identify the Support and Resistance Examine when

Items we will review How to visually identify the Support and Resistance Examine when not to take a trade Examine where not to place an exit or take profit Learn what tools to use to draw Resistance and Support

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