✊ Support and Resistance: support and resistance trading, how to draw su...

  





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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)

The more times Support is tested, the stronger it becomes. Support and Resistance are lines on your chart. You should place your stop loss at Support and Resistance. A Support and Resistance trading strategy — that lets you profit from losing traders. In stock market technical analysis, support and resistance is a concept that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

A support line is used in technical analysis to determine a price level through which an asset is unlikely to pass. Using lines of support and resistance allows investors to assess whether an asset is near the top or bottom of its short-term trend. The concept of support and resistance forms the basis of Forex technical analysis. Forex traders look to buy at or near areas of significant levels of potential support in an uptrend. Forex traders look to sell at or near areas of significant levels of potential resistance in a downtrend.

Two of the most basic, yet effective, technical patterns are support and resistance. When prices are falling, support represents the moment when buying overwhelms selling and prices reverse. Conversely, when stocks are moving higher, resistance is the point where selling overwhelms buying and the price increases stop. Support or support level refers to the price level below which, historically, a stock has had difficulty falling. It is the level at which buyers tend to enter the stock. If the price of a stock falls toward a support level, it is a test for the stock: the support is either confirmed or eradicated.

A breakout is a stock price moving outside a defined support or resistance level with increased volume. A breakout trader enters a long position after the stock price breaks above resistance or enters a short position after the stock breaks below support.