Day 7: Support, resistance, and key levels

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9 Terms

1
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What are Levels?

Important price points where the market may make a big decision

2
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What are the three things that can happen when price reaches a level?

Bounce (rejection), break, or stall

3
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<p>What is this called?</p>

What is this called?

Breakout

4
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<p>What is this called?</p>

What is this called?

Stalls

5
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<p>What is this called?</p>

What is this called?

Bounce

6
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What does the higher timeframe tells us?

The overall direction (The bigger Picture)

7
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What does the Lower timeframe tells us?

The exact moment to get in or out.

8
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<p>What is support?</p>

What is support?

Support is the price area where the market says, “We are not going any lower.”

9
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<p>What is resistance?</p>

What is resistance?

Resistance is the price area where the market says, “We are not going any higher.”