Please any expert here? i need little help

Hello there,
I am from India, Its been 3 months i started trading on demo account, and now i want to analyse the market trends i mean i want to predict where the price going to end up,

so, how can i learn how draw on charts like supports and resistance ?

*Sorry for my English, as its not my first language.

Thank You.

I would start here …

Be aware of two important things:-

  1. All “predicitions” are probability functions (and most aspects of trading are probability functions, really: as Mark Douglas rightly said, profitable traders are people who can learn to think in terms of probabilities) and it helps to think about “predicting” only within this context

  2. Most steadily successful, profitable traders would probably tell you that they don’t try to “predict” where price is going to end up - you don’t need to “predict,” to trade profitably

Very, very, very few (there were some, but they nearly all left).

It’s a beginners’ forum, you know? Would you expect it to be full of experts?

Usually, in forums, the people who sound most like “experts” are just people trying to sound like experts because they have something to promote or sell, so it’s never easy to tell who they are anyway. And the less experience you have yourself, the harder it is to tell.


Maybe an expert punter or two… no such thing as an expert retail trader. Ha


Okay, thank you i will look into that

There is an easy way to identify support and resistance. But these price levels are not guaranteed: they often have no effect on price’s movement.

On the daily candlestick charts look for a chart on which price has been rising steadily. Look for a chart on which the last candle’s high was lower than the high of the day before and the low was lower than the low of the day before - that is Day 1.

If the next candle has a lower high than Day 1 and a lower low than Day 1, that is Day 2. If the next candle has a lower high than Day 2 and a lower low than Day 2, that is Day 3. Draw a horizontal line at the low of Day 3, that is support. Reverse the instructions to find resistance.

Also, look back to the candle before Day 1 and draw a horizontal line at its high - that is also resistance.


It’s basically like 99% of forum conversations about S/R: it’s a cross-purposes conversation in the sense that the people asking about it have a tacit, concealed belief about what S/R are (and it’s one that doesn’t distinguish between historical and future/anticipated S/R at all, let alone as a probability function, because they very reasonably don’t understand on a conceptual level the significance of doing that) but the responses - while technically valid and accurate - don’t really acknowledge or allow for that reality, with the overall outcome that the extent of the benefit, if any, is “disappointing”. :crazy_face:


His book, In the Zone, is one of the most motivating books I have read about trading. Great response to Samrat3s questions.


To draw support and resistance levels on charts, start by identifying key levels where the price frequently reverses or consolidates. Use your charting tool to draw horizontal lines at these points. Ensure these levels are significant across multiple time frames, such as daily, weekly, and monthly charts, to confirm their importance.

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