Introduction to Support & Resistance Levels
Agenda • What are support/resistance levels? • How to identify support/resistance – Simple horizontal lines – Trendlines – Fibonacci Retracement levels
• Advantages of using support/resistance
Support and Resistance levels
Support level The price level at which the currency has historically had difficulty falling below
Support
Resistance level The price level at which the currency has historically had difficulty trading above
Resistance
How to Identify Support/Resistance Simple Horizontal lines Trendlines Fibonacci Retracement levels
1. Simple Horizontal Lines
Resistance
Support
1. Simple Horizontal Lines
Resistance
Support
2. Trendlines
2. Trendlines Resistance
Support
2. Trendlines Resistance
Support
Resistance
Support
3. Fibonacci Retracement levels
3. Fibonacci Retracement levels
3. Fibonacci Retracement levels
3. Fibonacci Retracement levels
Advantages of using support/resistance
Support and Resistance levels help you determine: • Entry levels
Support and Resistance levels help you determine: • Entry levels • Exit levels: Stop Loss and Take Profit orders
Support and Resistance levels help you determine: • Entry levels • Exit levels: Stop Loss and Take Profit orders
Support and Resistance levels help you determine: • Entry levels • Exit levels: Stop Loss and Take Profit orders
Summary • What are support/resistance levels? • How to identify support/resistance – Simple horizontal lines – Trendlines – Fibonacci Retracement levels
• Advantages of using support/resistance
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