The concepts of trading level support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. As part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
- Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
- Support occurs where a downtrend is expected to pause due to a concentration of demand.
- Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.
- Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement.
- Support and resistance areas can be identified on charts using trendlines and moving averages.
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You will Need: MT4 terminal
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HOW TO USE:-
FOR SELL ENTRY:-
1. First made Ball Green Indicator on the Top.
2. Second made same time bottom Indicator Generate on Top areas Breakouts with 4 EMA.
3. Third made ball Green indicator Nearby Found any selling Candle.
4. Only 3 Confirmations after instant takes sell entry.
FOR BUY ENTRY:-