Master the Art of Support and Resistance! 📈📉
Identify key levels to time your entries and exits effectively.
Key Points:
Support: A price level where buying pressure is strong and the price tends to bounce off.
Resistance: A price level where selling pressure is strong and the price tends to reverse or consolidate.
Trading Strategies:
Buy at Support: When the price bounces off a support level, it's a potential buying opportunity.
Sell at Resistance: When the price reaches a resistance level, it's a potential selling opportunity.
Breakouts: A break above resistance or below support can signal a significant trend change.
Remember:
Risk Management: Always use stop-loss orders to protect your capital.
Confirmation: Combine support and resistance analysis with other technical analysis tools for increased accuracy.
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