Everyday Trader hears the same thing over and over again...
"Price Action"
"Volume Analysis"
"EMA & RSI"
All you need to learn is support and resistance
Here is a thread on how Support and Resistance will change your tradingπ§΅(1/11)
"Price Action"
"Volume Analysis"
"EMA & RSI"
All you need to learn is support and resistance
Here is a thread on how Support and Resistance will change your tradingπ§΅(1/11)
Before I get started, there is no shortcut to trading
It takes
π Your Time
π Your Hard work
π Dedication
I try to simplify very complicated things in a simple way
Follow me with notifications on and Like/Rt this tweet
It takes
π Your Time
π Your Hard work
π Dedication
I try to simplify very complicated things in a simple way
Follow me with notifications on and Like/Rt this tweet
So what is support and resistance?
Support is a level that the stock is holding & If a stock is holding a certain level then that is the support
Resistance is a price in the stock where there are a lot of sellers & Its a level that the stock can not get above because of the heavy selling
Support is a level that the stock is holding & If a stock is holding a certain level then that is the support
Resistance is a price in the stock where there are a lot of sellers & Its a level that the stock can not get above because of the heavy selling
The Importance of Support and Resistance
Whenever we get a clean breakout after the good consolidation
We get best result π₯π₯
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
Whenever we get a clean breakout after the good consolidation
We get best result π₯π₯
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
How To Find Support and Resistance.
There are 4 types of Support and Resistance.
- Round Levels
- Multiple Key Level
- "V" Shape Reversal Level
- Previous Day High and Lows
There are 4 types of Support and Resistance.
- Round Levels
- Multiple Key Level
- "V" Shape Reversal Level
- Previous Day High and Lows
1. Round Levels:-
Round levels are the key levels that end with 100, 500, and 1000 for example if a Nifty is at 22137 then 22000 acts as very strong round support level
If a stock is at 559 then 500 & 600
Some stocks move around support & resistance levels to level
Round levels are the key levels that end with 100, 500, and 1000 for example if a Nifty is at 22137 then 22000 acts as very strong round support level
If a stock is at 559 then 500 & 600
Some stocks move around support & resistance levels to level
2. Multiple Key Levels:-
When a stock or index bounces from a particular point multiple times that become a strong support
When a stock or index rejections from a particular point multiple times that become a strong resistance
(Rejections = Resistance, Bounces = Support)
When a stock or index bounces from a particular point multiple times that become a strong support
When a stock or index rejections from a particular point multiple times that become a strong resistance
(Rejections = Resistance, Bounces = Support)
3. V-Shape Reversal:-
When a stock or index sharply falls & completely reverses from a point 100% recovered
That point acts as a strong support zone
Always mark that level whenever market again comes at that level you can see a sharp reversal
When a stock or index sharply falls & completely reverses from a point 100% recovered
That point acts as a strong support zone
Always mark that level whenever market again comes at that level you can see a sharp reversal
4. Previous Day Highs and Lows:-
Always mark your previous day's highs and lows
You can also mark the previous week's High & Low
That levels always acts as strong support & resistance
Always mark your previous day's highs and lows
You can also mark the previous week's High & Low
That levels always acts as strong support & resistance
How To Trade With Levels.
The way you trade with levels (Support and Resistance is simple)
You wait for a resistance to break, then you wait for the resistance to switch into support which is called a retest.
For Example LT Weekly Chart
The way you trade with levels (Support and Resistance is simple)
You wait for a resistance to break, then you wait for the resistance to switch into support which is called a retest.
For Example LT Weekly Chart
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β Intraday Strong Stock Breakout & Patterns
β Weekend Swing Trading Technical Chart
β Built the Right Mindset for Investing and trading
β Nifty & Bank Nifty Intraday Support & Resistance with Analysis
β Stocks Weekly & Monthly Strong Breakouts
Join II t.me
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