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      • 🔹1. Introduction
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        • 🔸April 6, 1983 (Continued)
        • 🔸April 6, 1983
        • 🔸August 18, 1983
        • 🔸Double Three Correction Ending in August 1982
        • 🔸January 1982
        • 🔸Long Term Forecast Update 1982 1983
        • 🔸October 6, 1982
        • 🔸September 13, 1982
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  • What are Support & Resistance?
  • How do they matter?
  • Types of Support and Resistance

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  1. Advanced Market Analytics (AMA)
  2. All Lessons

Support & Resistance

PreviousFibonacci Retracement & ExtensionNextAll Lessons

Last updated 2 years ago

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What are Support & Resistance?

Support is the price level at which demand is thought to be strong enough to prevent the price from declining further.

Support is the price level at which demand is thought to be strong enough to prevent the price from declining further.

How do they matter?

  • They identify high probability bound key decision zones for a bounce or break

  • When they break it indicates a further big move or change in trend.

  • It's good to avoid trading into the support and resistance levels, they can be used for targets and also stop loss

  • Once broken the broken support level can act as a resistance level and vice versa

Types of Support and Resistance

  • Trend Swing highs and lows

  • A cluster of highs/lows where prices consolidated

  • As per wave patterns

In wave patterns, 4th wave swing low can provide support

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