Closing below support?

A candlestick Closing below your support line means reversal right?

Ahhhh, if it were only that easy…

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Closing below support line , can be any situation. Please look at the left hand side and see what’s the chart tell you. Dow theory is very importation as well as there are a lot of candlestick pattern (Reversal and Continuation pattern). Take your time to practice on demo and backtest them.

You need to check well your chart and some statistics like RSI, MACD,etc. Generally speaking, market will test support line. If there is no strength to break it we shall see a reversal toward resistance line. On the opposite side, support line will be breached and move toward the next support level