Support and resistance levels are significant levels on the asset chart that the price has a chance of retracing from. Trading on breakouts and trend reversals is a popular method of choosing market entries. Support and resistance lines are the most obvious technical analysis indicator. At the very least, you should give them a chance because a lot of investors and traders all over the world rely on them daily. Support and resistance lines on the chart Horizontal line in the Platform ‘Graphical Tools’ menu You can draw these lines on any kind of chart: bar, candlestick, area, or line. But as with other forms of technical analysis, they are the most visible on candlestick and bar charts. Support and resistance levels can help traders figure out at what point to purchase an asset with a falling price, and when to consider selling it. As you can see, support and resistance levels reflect peaks and troughs on the price chart. These local price extremes are the foun...
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