Lesson 8
Support & Resistance
Lesson Details
Support & Resistance
In this session we will discuss what, for many new traders, is a huge turning point on the path to success becoming a professional trader. The concept of Support & Resistance is the one area that causes the largest breakthrough for students when learning how to trade. Support refers to an area where price is likely to bounce higher while Resistance refers to an area where price is likely to reverse lower. A build up of buy orders creates support while a build up of sell orders creates resistance. Understanding Support (demand) & Resistance (supply) order flow dynamics is one of the most important areas of technical analysis and should be incorporated into any trading method.
Correctly answer 7 of 9 questions to pass.
What type of market bounces off support & resistance levels?
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Past highs form?
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Do past support and resistance levels tend to repeat themselves?
Correctly answer 7 of 9 questions to pass.
When price is bouncing off support & resistance it is?
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Support is a good level to?
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How many times at minimum should we go back to see when price has bounced of resistance or support levels to make a good decision?
Correctly answer 7 of 9 questions to pass.
If price bounces twice off support you should look to?
Correctly answer 7 of 9 questions to pass.
Can support and resistance levels tell you the future?
Correctly answer 7 of 9 questions to pass.
