❓ Question#beginner
W
Wolf Cub
Trader · · 141 views
What is support and resistance and why does it matter?
✦
My mentor keeps talking about support and resistance levels. How do I identify them on a chart?
👍🔥📈12 reactions2 answers
Advertisement
💡 2 Answers
✅Best Answer
PA
Price Action Pro
Trader · 15 days ago
Support is where price has bounced up from multiple times. Resistance is where price has been rejected down from multiple times. Price has memory — it tends to react at these levels.
👍 12
WA
Wolf Alpha
Trader · 15 days ago
Identify major S/R on higher timeframes (weekly, daily) first. Then zoom to lower timeframes to fine-tune entries. The higher the timeframe, the more significant the level.
👍 18
Advertisement