Ultimate guide for Support and Resistance - Explained in Detail...
What is Support and Resistance? TRADING RANGE Support and Resistance price levels on charts can shows buyers and sellers are located at different price levels. Support is created when there is buying demand at a certain level on a chart. Resistance is created at a price level where there are plenty of sellers waiting to exit when the price is reached. Buyers and Sellers are always in equal in transaction, it is the price that changes. Resistance and support are a way to measure and quantify whether a chart is currently in an uptrend, downtrend, or on going sideways in your timeframe. Horizontal support and Resistance around a price area over and over again shows sideways price action on a chart. Support and Resistance ascending to higher highs and higher low price levels shows that a price is in an uptrend. Support and Resistance descending to lower highs and lower low price levels shows that a price is in an downtrend. A Repeated lower price level that is revisited but ha...