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How to analyze the market to gain profits by understanding support and resistance levels!
Hello brothers, recently many of you have reached out to me saying, 'Brother Black Horse, you analyze the market accurately, but there are many professional terms we don't understand, leading us to miss opportunities or make wrong trades.' Today, I will simplify things and explain them clearly to you.
Normal market trends consist of support and resistance levels. When it reaches a resistance level, it will retreat; when it reaches a support level, it will bounce back. This is what we see today in the distorted price chart.
What is a resistance level?
When a market trend rises to a certain level, there will be a lot of sell orders, preventing further upward movement and forming a resistance level. This is akin to levels in a game: first resistance level, second resistance level, third resistance level. Breaking through the first resistance level indicates strength, and the market will continue to rise. As it approaches the second and third resistance levels, the momentum will weaken, similar to how a person running needs to rest. The market will also experience retracements. These resistance levels are also where we can sell long positions or buy short positions. So, brothers, you can use the resistance levels I provided to decide on your long positions or short positions. If you don't know where to short or where to sell your long positions, just refer to the resistance levels I analyze and provide daily.