S&R are price points on the chart
Support is a price point below the current market price that indicate buying interest.
Resistance is a price point above the current market price that indicate selling interest.
To identify S&R, place a horizontal line in such a way that it connects at least 3 price action zones, well-spaced in time. The more number of price action zones (well spaced in time) the horizontal line connects, the stronger is S&R
S&R can be used to identify targets for the trade. For a long trade, look for the immediate resistance level as the target. For a short trade, look for the immediate support level as the target.
Lastly, comply with the checklist for optimal trading results
Support is a price point below the current market price that indicate buying interest.
Resistance is a price point above the current market price that indicate selling interest.
To identify S&R, place a horizontal line in such a way that it connects at least 3 price action zones, well-spaced in time. The more number of price action zones (well spaced in time) the horizontal line connects, the stronger is S&R
S&R can be used to identify targets for the trade. For a long trade, look for the immediate resistance level as the target. For a short trade, look for the immediate support level as the target.
Lastly, comply with the checklist for optimal trading results