How To Identify the Support and Resistance on your Charts

http://www.michaelglass.com - Here we are on Day 12 of the Accendo Traders 30 Day Stock Market Challenge located at 30daychallenge.accendotraders.com. This we of the challenge, we are focusing on Technical analysis. Today, we begin with Support and Resistance. Remember, the Trend is Your Friend

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[khanpreston1]

what are the factors that bring resistance and support level?

[accendotraders]

@khanpreston1 Supply and Demand would probably be the biggest factor. At what price levels do buyers and sellers find value. In general those price levels tend to repeat over time.

[ackilla86]

@khanpreston1 does it matter?

[accendotraders]

@ackilla86 Good Point, the most important point that most day traders who utilize technical analysis is to know the what - where price has behaved as support and resistance in the past. The why is secondary.

[accendotraders]

@khanpreston1 I believe it is value. The question I ask myself is where would a buyer or seller find value. Sure, in all of the books, you will read discussions of lining up 3 or more points of interest, but a more sensible way of looking at is defining value.

[FreeFOREXautoROBOTS]

Your video is informative and useful.

Thank you very much.

[accendotraders]

@FreeFOREXautoROBOTS Thanks for the positive feedback

[sevaguru]

sir, do you have any module for Indian Market., If yes send me details