Read Support and Resistance Chart Patterns: Part 1 of 2

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Support and Resistance chart patterns are an amazing phenomenon and form the core of chart pattern analysis. In simple terms, when we see price move down then bounce off a certain level, this means support. Alternatively if the price moves up and hits a ceiling then bounces down again, this is resistance. This support and resistance is affected by the simple act of the market buying and selling.

Another interesting point is that these levels tend to occur in round numbers. Buyers and sellers prefer to opt in and out at certain price points. Support and resistance reflect these.

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[aabhadip]

Hi hi! Have you ever tried the British Box Breakout (google it)? Ive heard some unbelivable things about it and my cousin earned tons of money.

[khanpreston1]

what are the factors that bring resistance level?