WELCOME TO THE WORLD OF KNOWLEDGE - TRADE WITH QMN TODAY, WE ARE GOING TO DISCUSS ABOUT SUPPORT AND RESISTANCE. LET'S SEE WITH US 'HOW TO FIND SUPPORT AND RESISTANCE LEVEL. SUPPORT AND RESISTANCE - SUPPORT RESISTANCE IS RANGE, THERE ARE MANY TYPES OF S&R LEVEL. For e.g. IN A STOCK, PRICE IS TOUCHING 1000 WITH FULL SPEED THEN CANDLE CREATES A WICK ON 1000, AFTER THAT PRICE SLIP TO 900 THEN CANDLE CREATES A WICK ON 900. MANUAL PROCESS - SUPPORT AND RESISTANCE YOU NEED TO DRAW A HORIZONTAL LINE TO BOTTOM OF THE RANGE AND TOP OF RANGE, THEN YOU CAN SAY THAT SUPPORT RESISTANCE LEVELS. THIS IS MANUAL PROCESS. WITH EXPONENTIAL MOVING AVERAGE (EMA) - SUPPORT RESISTANCE (EMA) 20D YOU NEED TO ADD EMA INDICATOR IN YOUR CHART / TRADING SETUP, FOLLOW ONLY ONE LINE FOR BEST RESULT. ALGO TRADERS ARE USING THIS EMA STRATEGY, FOLLOW R:R RATIO OF 1:1 WHILE USING EMA INDICATOR, CAUSE ALGO TRADERS MAY TRAP YOU. WITH FIBONACCI RETRACEMENT - SUPPORT RESISTANCE (FIBONACCI RETRACEMENT ) ...
TRUST - EXPERTISE - RESULT