Support and resistance are vital to every trader’s strategy. These levels form the foundation of technical analysis, helping you spot trends and make informed trading decisions.
In this lesson, we’ll explore the three types of market trends—uptrend, downtrend, and sideways market—and how pullbacks play a role within them. Understanding how to draw support, resistance, and trendlines correctly is crucial for success. We’ll also cover common mistakes traders make and teach you the right techniques to identify these levels accurately.
Additionally, we will debunk three common misconceptions about support and resistance that often mislead traders, helping you avoid pitfalls and strengthen your approach.
Let’s dive in and unlock the power of support and resistance!
