Do Support And Resistance Lines Confuse You? ๐Ÿ™„

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โœ… Differences of Strong & Weak Support & Resistance Levels
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Drawing too many support and resistance lines. How many support and resistance lines should I place? How do we avoid that and trade only the key levels that are meaningful to us? Are support and resistance just random lines on your chart? I have struggled with this before myself. We have our primary levels but also secondary ones and before long you have too many levels drawn on a chart. The key to this is to limit what you put on a chart; you can’t put every single level. Look at the most recent levels which should be given more importance. Also, as opposed to having support and resistance lines try to have zones of interest.

Timur Muhammedov: Hi, I have a bit of an issue with support and resistance in range bound condition. My problem is that I draw not only upper resistance and lower support of the range but also several levels in between those. This makes it hard to open a position because I think that price may bounce back from any of those support and resistance levels. I hope I managed to explain my issue. I would appreciate if you could help me with that. Thank you.

What do you mean by ‘several levels in between those’? Please try to be clearer.

Timur Muhammedov: I mean that I draw quite a lot of support and resistance levels all of which seem to be important because they are being tagged many times. The problem is that I’m not confident to open a position even if price reached upper resistance or lower support because there many important level in between and price can bounce back from those levels and not reach my target. And if I put my target at the nearest support or resistance level then the whole trade doesn’t make sense due to bad risk reward. Thanks a lot for your help and great videos!


Related Videos:
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Do Support and Resistance Lines Confuse You?

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Support and Resistance Trading Strategy: Trading Support and Resistance Levels ๐Ÿ“ˆ

Why Support and Resistance Works: The Psychology Explained โ˜

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