The Simplest Technical Analysis Lesson for Beginners: Understand "Support and Resistance" and Start Your Journey with Confidence
Are you new to technical analysis and feel overwhelmed by the numerous terms?
Start with the basics… specifically: support and resistance.
💭 What is support?
It is a price level where the price stops falling, as buyers increase at this point.
Think of it as ground preventing the ball from falling further.
💭 What is resistance?
It is a level that prevents the price from rising further, due to increased selling.
Like a ceiling that the ball hits every time.
How can you benefit from them?
When the price approaches support, think about buying.
And when it approaches resistance, think about selling or being cautious.
Practical tip:
Use free tools like #tradingview to draw lines, and observe how the price respects them.
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