Support & Resistance

Question 1

what is resistance?

Answer 1

selling pressure

Question 2

what is support?

Answer 2

buying pressure

Question 3

what are the 3 types of s/r levels?

Answer 3

horizontal s/r
psychological s/r
trend line s/r levels

Question 4

what are the 3 steps to find the perfect s/r level?

Answer 4

1. find the area, not the line
2. significant levels are found on bigger time frames
3. look for a minimum of 3 reversals to confirm a level

Question 5

what is a flip?

Answer 5

the moment when support becomes resistance