Next Steps After Support and Resistance

The concept of support and resistance is very important for traders to know. Basically, both are able to mark the location where the price is most likely to experience a significant move.

In forex, the direction of price movement is always changing. It is impossible for prices to continue to rise or continue to fall forever. There will definitely be a point where the price movement changes direction. These points of change of direction are called support and resistance.

The concepts of support and resistance are two of the most widely discussed attributes in the analysis. This term is used to refer to a certain price level that prevents or keeps the price from being pushed in a certain direction.

Most experienced traders can tell about how certain price levels tend to prevent traders from pushing prices in certain directions.

Support is a certain price level or area that can be believed to be the lowest point at a time, where it is as if this price level keeps the price from falling deeper. When it hits support, the price seems to bounce back up. If this support is broken (breakdown), then the price will drop down until it finds a new support point.

While resistance is the opposite of support. Resistance is a certain price level or area that is believed to be the highest point or area at a time, where the selling action is large enough to prevent prices from moving up.

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