How to Trade Using Support and Resistance

Support and resistance is one of the key indicators of technical analysis. Technical analysis is needed to be able to recognize past patterns and predict future patterns. Traders use levels or support and resistance lines to identify price points on a forex chart.

Support is the lower limit of price movements when buyers have a greater opportunity to appear again to buy shares. This is because traders think that the price is already in a low position so that it will make the price tend to go back up or rebound.

Support is a line under the chart that can help provide information to traders when they are about to open a buy. A strong support level is indicated by a chart that approaches the line but does not exceed the support line. In this condition, traders can open buy positions.

Resistance is a line that is above the chart or the upper price limit. The resistance line is generally used for strategies when selling. This is because the price pattern goes down when approaching the resistance line. Therefore, traders will sell when they are high so as not to suffer losses when they fall again.

At resistance, traders have a greater chance of selling again. This is because the sellers think that the price is already in a high position and the sellers have already made a profit, so the price tends to bounce back or bounce back.

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