Hey all
I am a newbie, can you guys help me understand resistance and support and how to put it in the candle chart? The article in the school gives a general summery of it but it did talk about how to get the resistance and support in the first place.
You might be advised to use a search engine and read a lot of articles about support and resistance. It is a very important topic in trading and it is a subject that you need to pay close attention to it.
Support and resistance can be illustrated by pivots, Fibonacci, trend lines, as well as several other indicators.
Spend a good amount of time studying it.
You can find out how to place S/R only by trying your feet in this strategy for an extended period of time. S/R are subjective, there is no solid theory or rules that can be used universally and bring profits to all.
Maybe you will find your holy grail during hours of backtesting. Don’t rush to put your money to work, practice on demo first.
Thanks guys can you tell me what some of you guys do and your process?