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Day 1
Support & Resistance :- A Complete Guide
One of the most important concepts every trader should understand
Support and resistance are not just lines on a chart They help us identify where price may react, reverse or break out
Let's understand them with simple examples.
1. Support - The Floor
Support is an area where buyers have previously stepped in and slowed down a decline
Example:- BTC falls toward $80,000 several times but keeps bouncing
That makes $80,000 an important support area to watch
2. Resistance - The Ceiling
Resistance is an area where sellers have previously stepped in and slowed down a rally
Example:- BTC repeatedly gets rejected near $85,000
That makes $85,000 an important resistance area
3. Zones, Not Exact Lines
Price doesn't always reverse at exactly $80,000
It may react anywhere between $79,700 and $80,300
This is why I prefer marking zones instead of relying on a single price
4. Breakout and Retest
When price breaks resistance that area can become support
But I don't assume every breakout will succeed
I watch for a candle close follow-through and a possible retest
5. Liquidity Sweep
Sometimes price moves below support, triggers stop-losses, and quickly reclaims the level
This can signal a potential reversal but confirmation is still important
6. Higher Timeframe Matters
A support zone on the Daily chart generally carries more significance than a minor level on the 5-minute chart
Always understand the bigger picture first
7. Confluence
Support or resistance becomes more interesting when it aligns with market structure, liquidity, volume or an FVG
But no combination guarantees a successful trade
My key takeaway:-
Don't blindly buy support or sell resistance
Watch how price behaves around the zone define your invalidation, and manage your risk
The goal is not to predict every move
It's to react to price with a clear plan
big things are coming for @Enter_Elysium
at this point I'm not asking for much
just enough money to stop checking my bank balance before ordering food🤣
please don't disappoint us this time
we're already broke from previous opportunities
my november goals:
- hit at least 3k followers
- earn 7 figs
- build a strong network
- make some more new connections
- find another beautiful wife
- get 14 hours of sleep daily
- try to date her
- try to retire web3 job
will try my best, let's coook this month
this is not memecoin
this is Bitfinex $ETH longs continue to go parabolic
Toro retweeted
sorsa score hit 247
today increase 70
but i was feel funny why this score is just same as the trading fee taken by these exchanges @BitunixOfficial @BingXOfficial from me
sorsa score hit 247
today increase 70
but i was feel funny why this score is just same as the trading fee taken by these exchanges @BitunixOfficial @BingXOfficial from me
my october recap:
• made some money lost some opportunities
• spent 8 hours sleeping like a professional
• got a year older
• survived another month in crypto
• took a few Ls but learned some lessons
• watched the market test my patience
• still waiting for that life changing bull run
not the perfect month but we move
how was your october?
Next Wazirx 3.0
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