Horizontal Support And Resistance Levels In Trading
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Description
What is a Horizontal Support And Resistance Levels In Trading for Cheap?
What Are Support and Resistance in Trading?
Support and resistance levels are basic concepts in technical analysis that traders use to identify potential price levels where the market may change direction. These levels are based on the idea that prices tend to bounce or reverse at certain key levels, creating barriers to further movement. Whether you are a new or experienced trader, understanding support and resistance levels is an essential part of technical analysis and can help you make more informed trading decisions.
What Are Support and Resistance?
Support refers to a price level where demand for a particular asset is strong enough to prevent the price from declining further. In other words, it is the level at which buyers are willing to step in and buy the asset, leading to a rebound in prices. A support level can be identified by looking for areas on a chart where the price has previously found support and bounced higher.
Resistance, on the other hand, refers to a price level where supply of a particular asset is strong enough to prevent the price from rising further. It is the level at which sellers are willing to step in and sell the asset, leading to a pullback in prices. A resistance level can be identified by looking for areas on a chart where the price has previously encountered resistance and failed to move higher.
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