A Simple Way to Determine Support and Resistance

Traders must master technical analysis in trading, one of which is support and resistance. SNR is the most discussed in the analysis. Support is a level that has the potential to hold the price down. While Resistance is a level that has the potential to hold back price increases. Basically SNR aims to find out the right price movement when taking a buy or sell position and determine the price to continue or reverse direction. Support is generally a reference for looking for a buy position, while Resistance is a reference for looking for a sell position. Therefore, SNR can be combined in the form of a candlestick which is believed to determine the next movement. SNR is not sufficiently understood in theory, but it is necessary to take advantage of the help of technical indicators of price movements. Although the SNR can be seen with the naked eye without the auxiliary lines. However, it is better to use guide lines to make reading easier.

How to Determine Support and Resistance (SNR)

The important thing for traders to remember is that support and resistance levels are not exact numbers. Often traders see the price move beyond the support or resistance line that the trader has made. However, it was not the breakout that occurred, but the 'market is testing' the support or resistance level. When traders use candlestick charts, the test of this market is seen from the shadow of the candlestick.

The highest and lowest prices in candlesticks often deceive traders because usually these two prices are formed from reactions that arise from traders in the forex market. Therefore, when determining areas of support and resistance, avoid using market reflexes that arise. Look for the actual price movement, one easy way is to use a line chart. Using a line chart, look for areas where the price movement forms more than one peak or valley.



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