Support and Resistance
A 1-minute lesson from the MarketPro academy, one of 26 in technical analysis.
Support is a price area where buying interest has repeatedly stopped declines. Resistance is where selling interest has capped rallies.
The core idea
Support is a price area where buying interest has repeatedly stopped declines. Resistance is where selling interest has capped rallies. These are areas of remembered interest: traders who bought, sold, or missed the level last time tend to act when price returns to it.
Zones, not lines
Price rarely respects a level to the exact pip. Draw support and resistance as zones a few pips wide, anchored to candle bodies and clusters of wicks rather than single extremes. If your chart looks like a barcode, you have drawn too many.
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Not investment advice. Past performance is not indicative of future results.
Step 2 of 10 on Chart Reading Essentials
Run the numbers while this is fresh
The arithmetic in this category has a free calculator on this site, no sign-up and nothing leaves your browser: Pivot points calculator, Fibonacci calculator.
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All 320 lessons, 12 guided paths, quizzes and a daily streak. Free on every account, with vetted free signals alongside it.
Not investment advice. Past performance is not indicative of future results.