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ONLY SUPPORT

 

Only Support.



 

In this trading arena, everyone needs help with indicators because single-price action will not help to reach a goal.  So, in today’s article, we will see support indicators that help us with individual goals. Support means an old high & low-price action of resistance which after time will act as support.

As of now, every trading platform has a Support indicator with multiple names indicators. Support, Pivot Points,

 

BASIC EXAMPLE OF PRICE ACTIVE SUPPORT.


  EXAMPLE OF SUPPORT.






In the above screen, those circles show us the support area. Once the price is stable above the circle it’s a proven support area.

 

Mostly I am preferring basically Pivot point indicator for more robust support findings.

 

What are the pivot points?

The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On a subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates a bearish sentiment.

 

Key Points:

ü  After the market closes, or before it opens the next day, find the day's high and low, as well as the close from the most recent previous trading day.

ü  Sum the high, low, and close and then divide by three.

ü  Mark this price on the chart as P.

ü  Once P is known, calculate S1, S2, S3, R1, R2, and R3. The high and low in these calculations are from the prior trading day.

No worries if you do not understand those words, I will make a specific video for everyone.


PIVOT POINTS REAL EXAMPLE



 

As per the above screen, you can understand the green line is presenting as support, and red lines present resistance. Whenever the price is near to green line wait for the bounce and check volume also for support, keep in mind when you are trying to take entry base support line to upper resistance line distance should be justified with enough gaps. Like showing below.

 



Hope you saw the lower red arrow which indicates near support and an upper red arrow showing near resistance also see the volume spike.

 

As we see in this article what is the support / where we can find out / how we can utilize it?

If you have still QA, then just type in the comment box we will try to give our best. Also, we want to know which tool you are using to support trading in your day-to-day.

Share more earn more. Learn it and earn it.

 

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Note: Trade with Stop loss and enjoy your profits.










 

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