Support and resistance

Beginner Questions
1

Newbie here, practicing plotting support and resistance. Am I on the right track ?

image-3666779799.jpg700×438 31.1 KB

2

I’m still a newbie myself, but I find it important to be marking support and resistance on candles and not on a line graph.

Reason being that the candle wicks can show a different story, telling you where the market has tried to move price, but price has rejected this movement etc.

Edit - see this article for explanation
The Secrets Traders Can Learn From Candlesticks & Price Action

3

Hello Mate,

Here is a very good article on understanding Support & Resistance Levels by Chris Capre.

2 Key Clues to Understanding Support & Resistance Levels | 2nd Skies Forex

I have clarified few doubts on S & R Levels after reading this one. Hope this helps :slight_smile: