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INTERMEDIATE

Support & Resistance Levels Strategy

Master the art of trading support and resistance levels - the foundation of technical analysis

Difficulty

Intermediate

Risk Level

Medium

Best For

All Timeframes

Success Rate

High

What are Support & Resistance Levels?

Support and resistance levels are price levels where buying (support) or selling (resistance) pressure becomes significant enough to halt or reverse price movement. These levels are formed by previous price action and represent psychological barriers in the market.

Support = Price level where buying pressure overcomes selling pressure
Resistance = Price level where selling pressure overcomes buying pressure
Breakout = Price moves through the level with increased volume

Types of Support & Resistance

Support Levels

📈

Major Support

Strong buying pressure, multiple tests

📊

Minor Support

Recent lows, weaker buying pressure

🎯

Dynamic Support

Moving averages, trend lines

Resistance Levels

📉

Major Resistance

Strong selling pressure, multiple rejections

📊

Minor Resistance

Recent highs, weaker selling pressure

🎯

Dynamic Resistance

Moving averages, trend channels

Trading Rules

BUY at Support

  1. 1.Identify strong support level (previous lows, round numbers)
  2. 2.Wait for price to approach the support level
  3. 3.Look for bullish reversal candlestick patterns
  4. 4.Enter long when price bounces off support with volume

SELL at Resistance

  1. 1.Identify strong resistance level (previous highs, round numbers)
  2. 2.Wait for price to approach the resistance level
  3. 3.Look for bearish reversal candlestick patterns
  4. 4.Enter short when price rejects resistance with volume

Breakout Trading

Breakout Entry Rules

Bullish Breakout (Buy)

  • ✓ Price breaks above resistance with strong volume
  • ✓ Retest of broken level becomes new support
  • ✓ Enter on retest or immediate breakout
  • ✓ Stop loss below recent swing low

Bearish Breakout (Sell)

  • ✓ Price breaks below support with strong volume
  • ✓ Retest of broken level becomes new resistance
  • ✓ Enter on retest or immediate breakout
  • ✓ Stop loss above recent swing high

Risk Management

1.

Stop Loss Placement

Place below support (for longs) or above resistance (for shorts)

2.

Position Sizing

Risk 1-2% of capital, smaller for weaker levels

3.

Take Profit

Target next resistance/support level or 2:1 reward ratio

4.

Confirmation

Always wait for price action and volume confirmation

Disclaimer

Support and resistance levels are not guaranteed to hold. They represent areas of interest where price may reverse or break through. Always combine S&R analysis with other technical indicators and use proper risk management. This strategy works best when combined with volume analysis and price action confirmation.