Support and Resistance values are very fundamental in Forex trading that you should pay a closer attention to, what they are, and how to use them.
Support and Resistance are indicated in areas on trading charts. A Support Area is a buying area that always appears below the current price. It indicates the area that buyers are likely to enter the market at. A Resistance Area is s Selling area that always appears above the current price. It shows the area that sellers are likely to enter the market at.
Some traders/analysts may refer to those terms as Buyer or Bulls referring to Support, and Sellers or Bears, referring to Resistance.
Below is an example of the support and resistance placement on charts:
Placing support and resistance areas can be challenging, however, once you master it, it will work wonder to your trading benefit. However, with the technology development these days, you are able now to get these levels instantly through an indicator.
we do recommend that you know how to place them in different time frames to ensure that the indicator you are using is working correctly.
We will leave the conversation open for you now to share how do you place your support and resistance levels and the methods you use vs using an indicator