Horizontal support resistance levels

2023/2/25 10:11:53  read(5)

support howtocopyforextrad cashback forexg res best forex copy tradingtance levels are formed mainly between the long and short sides of the battle, the rising demand to form momentum to push the exchange rate up, become long; supply increases to suppress prices down, become short When the markets long-term demand and supply in a price level, or price range, we are accustomed to say that the exchange rate of the long and short currently in the middle of the balance of power, the exchange rate in range fluctuations as shown in the figure:  In such a range market, the line above we are used to say is the forextradingsignal line, meaning that every time the exchange rate is at a high level is blocked back down the line below we are used to say is the support line, meaning that every time the exchange rate is at a low level is supported by the rebound The resistance level is when the price is at a level where a strong supply is sufficient to meet demand to prevent prices from rising further in the process of prices rising to a certain resistance position, both sides tend to sell because of the price increase, the willingness of multiple parties to buy is reduced when prices reach the resistance position, supply will exceed demand to prevent prices from breaking through the resistance level support level is when prices are at the level, strong enough demand to prevent prices from falling further in the process of prices falling to point to a certain When the price reaches a support level, demand will outstrip supply to prevent the price from falling below the support level The support-resistance line is sometimes a horizontal line, but many times it can be a small range as shown in the figure:  Resistance is a range, and support is also a These support and resistance areas show the same meaning, in the exchange rate in these areas, the price shows the finishing trend, and once the breakthrough resistance area or fall below the support area of the currency market will often appear an important wave of the market Support resistance levels are often formed in the averages, integer levels, Fibonacci series positions and major news announcement points, etc., and as long as the formation of the previous The more support and resistance lines, the greater the possibility of future support or resistance in these positions