Where is the support in this chart?


Where is the support in this chart (weekly chart) ? Can you please mark the level ?

Godzilla - would be grate if you would also indicate what currency or instrument it is :slight_smile: Would be much easier to help

I did not want to name the scrip !

I want to get S/R level from chart only :slight_smile:

The most immediate support is where price is testing now around the 912-960 price area. If that support breaks then the next lower support would be around 672.

Thats a big range.

I dont get how you got 912 …( 960 is justifiable though )

I am with ‘InSearchOfPips’, because some of the candle tails reach the area between 960 and 912, so if you were to use a stop area you would want it below 912, not 960, for that reason…

Agree, it seems to have a wide “area of interest” from 912 to 1000 even. Bear in mind that support/resistance doesn’t have to be exact levels as price action can get volatile or make sharp spikes in those regions.

It’s 1000.

There are 2 levels 1st support is 960 (note this is also the ceiling before the break higher so now will be a solid floor, institutions tend to trade on break outs), 912 is 2nd support (major), 624 is the last support (at this point is great for stops on real long-term trading) any breach of that would be problematic for any on the long side.

same chart with Volume now …What do you see now ?


I have bought little at 964. Is it a bad decision ?

Lower highs and lower lows mainly, I’d say that’s a bearish chart, but for a short trade you would wait for it to break this level and return to it for an entry.

And there will be at least 5 differing opinions, that’s why there is no definitive answer in FX, the only definitive answer is the number underneath the balance column on your account!

The support zone is defined by the green lines at the image below:


A reversal looks likely price is falling on low volume. A look to the up should be right but markets don’t turn on a dime.

The support is around 980-1020 area.