Trading Strategy Using Support and Resistance

In forex and commodity trading, prices always move up and down due to supply and demand. The direction of the price movement can be estimated by means of technical analysis. One way to do this is to identify support and resistance levels.

Support and resistance are popular terms in the world of forex trading. The technique that is often used in technical analysis is indeed crucial for determining profits and losses. Support can be defined as a level that has the potential to hold the price down. Meanwhile, resistance is a level area that has the potential to hold back price increases. These two levels will be used to determine if the price continues or reverses direction.

In general, support and resistance aims to find out the right area to take a buy or sell position and determine the target of price movements. The support area is generally an area that is used as a reference to find buy positions and the resistance area is used as a reference to find short positions.

Please note that support and resistance levels do not have to be fixed levels. That is, it is natural for some traders to differ by several numbers when determining support and resistance. In fact, the most important thing is that the support and resistance are in the range of numbers that are not too far apart.

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