Thx, Kiel
I think I got the point.
Support is where the price is dropping (bearish) and moving on average lowest price at the moment, while resistance is where the price is recovering from the bearish, become bullish, moving on average highest price at the moment.
Means that when it start moving to support mode, we should sell to stop loss, and at the lowest support point we buy, expect gain profit when it moving to resistance mode.
If looking for good-profit entry point, we shoud buy at this moment when it start moving to resistance mode.
Pls correct me if I'm wrong, Kiel. Advise, critics, suggestions, etc. are welcomed.
Again, thanks for your info, Kiel. Highly appreciate it.
Thx
Gab
Quote:
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Originally Posted by ezekiel
Here is a sample graph of CAD showing support and resistance ...
You can see it formed a channel, in which the support finanly broke.
If price comes back up to this level around 1.1306, this support is now considered resistance, and there should be a handful of sellers waiting there...
Hope this helps
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