Price: $39.95 - $30.50
(as of Dec 23,2024 19:10:48 UTC – Details)

Publisher ‏ : ‎ Marketplace Books, Inc. (August 25, 2003)
Language ‏ : ‎ English
Paperback ‏ : ‎ 132 pages
ISBN-10 ‏ : ‎ 159280067X
ISBN-13 ‏ : ‎ 978-1592800674
Item Weight ‏ : ‎ 6.4 ounces
Dimensions ‏ : ‎ 5.9 x 0.5 x 8.8 inches

Support & Resistance Simplified

Support and resistance levels are fundamental concepts in technical analysis that are essential for traders to understand. These levels indicate where the price of an asset is likely to encounter barriers and reverse direction. By identifying these key levels, traders can make more informed decisions about when to enter or exit a trade.

Support is the price level at which an asset tends to stop falling and bounces back up. It acts as a floor for the price, preventing it from falling further. Traders often look to buy at or near support levels, as they believe the price is likely to bounce back up from that point.

Resistance, on the other hand, is the price level at which an asset tends to stop rising and reverses direction. It acts as a ceiling for the price, preventing it from moving higher. Traders often look to sell at or near resistance levels, as they believe the price is likely to reverse and move lower from that point.

To simplify the concept of support and resistance, think of support as the level where buyers are willing to step in and push the price back up, and resistance as the level where sellers are willing to step in and push the price back down.

By keeping an eye on support and resistance levels, traders can better anticipate potential price movements and make more strategic trading decisions. Remember, support and resistance levels are not set in stone and can change over time, so it’s important to continually monitor and adjust your trading strategies accordingly.
#Support #Resistance #Simplified, Technical Support