How to Set Limits on Prices for Entry

These boundaries are support and resistance. Support and resistance are levels where a trader sees many failed attempts that the price movement cannot surpass. Traders use support and resistance levels to identify price movements on charts and determine at what price levels a trend reversal or trend occurs. The support line occurs when the downtrend is about to stop due to a buildup of demand. Meanwhile, the resistance line appears when the uptrend is expected to stop temporarily, due to a buildup of supply. These areas of support and resistance can be identified using trend lines. After the support and resistance levels are identified, then the price level can become a point of support or resistance which will cause the first two things to bounce back from the support or resistance level, or continue strengthening or breaking through the support or resistance area to form new support and resistance levels. Watch the video below for more clear and detailed information!



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