How to place support and resistance in chart analysis?
If you are investing in stock market every person has quation that when to enter in stock amd when to exit in stock wich stock is best today etc....this type of question are in mind of beginner traders
We discussed about the stretergy wich help you to know when to enter and when to exit in stock that stretergy name is supporte&resistance
Support&resistance basic:-
So if you don't know basic of Support and resistance of stock market than i will tell you some basics of Support and resistance
What is supporte?
Support is one of the levels when Market starting to fall down and going on nagative note when market takes a ristresment and going on postice note this one levels called support level wich help market to retrece and going on up ward
As show in above image market fall and at one point or levels when Market take Support and going to the upward as show in image with red arrow this levels is called Support level
What is resistance?
As show in above image when Market trend is bullish and at one point market take retrace and going down at this point called resistance levels wich show by blue arrow
How to place support & resistance on chart?
Open chart and place 1 day candles frem as show above image and see the past movement when market take retrece from 2 to 3 times at same point at above then see if market gose down after retrece then this levels called resistance
And if Market at same point take retrece and going upward then this levels called support level
Open your platform and setting choose line tool and place it at top is resistance and at bottom is supporte levels as show in above image
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