How to find support and resistance key levels
By Yuriy Bishko Updated November 21, 2022
In this video I will share with you a technique that I have used for many years! I mean Key Levels. We will discuss why key levels are important and how to draw support and resistance lines. I will also tell you about the best timeframe to draw support and resistance levels. Drawing support and resistance is a sure-fire working method, but to use it you need to understand how to find support and resistance and how to plot support and resistance like a professional.
You might know that a support level is a price level from which price reverses on a top-down approach. This level seems to support price, preventing it from going lower.
A resistance level is a price level which causes the price to turn around as it approaches from the bottom upward. This level seems to resist the price, not letting it go higher. You can find much more about trading in our FREE course for beginners!
In practice, we do not need such a strict classification of levels. A simple understanding that a level is a point where the price with some probability can change its direction is enough, and I will show in detail how to work with it in real trading!