HOW TO FIND SUPPORT AND RESISTANCE LEVEL

HOW TO FIND SUPPORT AND RESISTANCE LEVEL - TRADE WITH QMN

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 )

YOU NEED TO SELECT FIBONACCI RETRACEMENT TOOL AND THEN PLACE IT FROM THE TOP OF RANGE TO BOTTOM OF THE RANGE PROPERLY, AFTER THAT YOU CAN SEE THE FIBONACCI RETRACEMENT LEVELS IS READY. THEN HAVE A QUESTION OF WHAT IS THE NUMBER AND WHAT IS IT USING FOR ? THE NUMBER IS ACTUALLY A PERCENTAGE OF RETRACEMENT For e.g. 0.5 IS 50%, 0.382 IS 38.2% etc.

IMPORTANT NOTE -

JOIN OUR FREE OF COST TELEGRAM CHANNEL FOR LIVE MARKET SUPPORT, OUR TEAM WILL SUPPORTS YOU 24/7 AS A TECHNICAL ANALYST.

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CONTACT US -

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Comments

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