Support & Resistance

Support & resistance are levels that price are likely to bounce off. Support is often referred to as being a floor, whilst resistance is called a ceiling

HOW TO SPOT S & R LEVELS

Support and resistance areas are very easy to spot. Just look for areas that price bounces off of several times. Once price bounces off a certain area twice, you can mark it out and anticipate further bounces

RESISTANCE = SUPPORT

Often times, you will see that previous levels of resistance will turn into support once price breaks through it. Conversely, support can become future resistance