How to identify these areas on a chart?
Identifying these areas requires some observation and a certain level of experience, but here are the basic steps:
1. Look at previous highs and lows Support areas usually form around previous lows, and resistance areas around previous highs. This is the basic principle for locating these areas.
2. Analyze candle closes Another tip: if a candle closes above a resistance or below a support, it is often a strong signal of a structural break.
3. Look for areas where the price stagnates for a while, as these are often key support or resistance zones.
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