Make Profits with Support and Resistance Trading Strategy

Identification Of Key Support And Resistance Levels Is Most Important Component To Successful Technical Analysis And Profitable Trading. Even Though It Is Sometimes Difficult To Establish Exact Support And Resistance Levels, Being Aware Of Their Existence And Location Can Greatly Enhance Analysis And Forecasting Abilities.

If Price Is Approaching An Important Support Level, It Can Serve As An Alert To Looking For Increased Buying And A Potential Reversal Signal On Indicators And Oscillators. If Price Is Approaching A Resistance Level, It Can Act As An Alert To Look For Increased Selling And Potential Reversal Signal On Indicators And Oscillators.

If A Support Or Resistance Level Is Broken, It Signals That The Relationship Between Supply And Demand Has Changed. A Resistance Breakout Signals That Demand Has Gained The Upper Hand And A Support Break Signals That Supply Has Won The Battle. This Can Be Seen On Chart With Trend Continuation Patterns And On Indicators Or Oscillators As Fresh Continuation Patterns.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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