How to Identify Strong Support and Resistance Areas to Capture the Best Opportunities 💹
📄 Content:
Knowing where the price might bounce or break is a key skill for every successful trader.
💡 Support is a level expected to stop the price from falling.
💡 Resistance is a level expected to stop the price from rising.
Simple steps to identify them:
1. Open the chart on the 1-hour or 4-hour timeframe.
2. Look for repeated peaks and troughs.
3. Draw a horizontal line at these areas.
4. Observe how the price reacts when it returns to these areas.
✨ Professional Tip: The more frequently the price bounces from the same area, the stronger it becomes.
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