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Thread: Support and resistance levels

  1. #1
    Super Moderator Gulfstream's Avatar
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    Support and resistance levels

    Support and resistance levels are one of the most common concepts in trading. Oddly enough, there are plenty of exercises how to build these levels.

    At first, let's look at the basics.

    Look at the diagram above. As can be seen this zigzag moves up (bull market). When the market moves up and then pulls back, the highest point reached before the rollback becomes the resistance.

    As the market continues to move up, the lowest point reached before the reversal becomes a support level. Thus the support and resistance levels are being formed during the movement of the market and its kickbacks. All of the above mentioned is true for downward movement, but in mirror image.

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    Last edited by Gulfstream; 02-14-2013 at 08:14 PM.

  2. #2691
    Trader Silhouette's Avatar
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    Quote Originally Posted by naeem555 View Post
    i think support and resistance should be own first option there are some reasons, as we know these points are good and clearly tell us where to enter and where to exit, so i think we should do more and more trade our patience, our proper management and everything can give us good skills, otherwise we can lose here, any strategy can work if we have done practice on it, but this is really good then many other strategies
    I'd better relate those levels of support and resistance to give me more accuracy and I don't want to take them directly without getting different confirmations from different strategies. I can combine them with trend line and candlestick patterns to complete the analysis better. I know the power of support resistance levels but since they're just levels in market, price can move through them or bounce back at anytime depending on market trends.

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