Topic: High chance to profit. how to spot strong SUPPORT AND RESISTANCE (Read 111 times)

The trend line is actually one of the best ways one can easily spots the support and resistance level. However, I do only combined it with candlestick formations and patterns before making a trading decision. I don't just put my hard earned money without using candlestick and some fundamental issues before  putting in a position.

you are correct but let me put it this way for you, all the speculations and technical analysis that you use in other markets like Forex are not 100%, lets say those speculations are 85% correct. when it comes to bitcoin the same speculations go down to 60% correct and when it comes to altcoins the same speculations and techniques go down to 20% correct for big coins and 1% correct for the rest.

this doesn't mean they are useless, or won't work. people will continue using them but you also have to know that when the markets are smaller and manipulated (specially altcoins) all the previous equations will go down the drain.

I have the same opinion with you. We need to have confidence in the news. But do not be too dependent on them. We need to analyze clearly and analyze with reason. Do not let emotions govern our thinking. Understand that rule, you will be a talented investor and you will become extremely wealthy.

If SUPPORT and RESISTANCE is useless. why many famous person in trading using this?. and why many trader believe in this?.
trading is all about speculation nothing is 100%. it does not mean that every time you predict the price, price go there. because if that happens market will fall. your only speculating it using S/R.

This all works only in the Forex market!
To crypto coins this is useless and foolish.

Since we can not predict the price movement, which is absolutely chaotic.

SUPPORT AND RESISTANCE
*Support and Resistance can help guide traders with entries and exits.
*They are used to optimize the price and timing for a trade
*Can be used to identify potential long and short opportunities.

This is a basic if you want to learn on how to trade, how to spot a high chance of winning. many traders using a indicator. in my part indicator are useful when you want to know a specific measure but all indicator are lagging indicator it record the past price action. my advice is dont rely too much, dont make it a main reason to enter the market. just exercise on spotting support and resistance then apply indicator. specially on higher timeframe. there a high chance of winning.
This is the common place where the price stop base on the past record for that specific timeframe. this is the good place if you want to enter in the market.

This are the example of spotting support and resistance



What do you think?. Where the price go next?. so atleast you have an idea  and not only idea because if you know how to read a price chart. that every trader know how to do it, your one of them that has a idea that the given asset has a chance to go to support or make a retest on resistance. take note only spotting resistance and support, not yet using a indicator. price move depend on the speculation of every trader, for example if you think that this is going up again you buy it. and if every trader think the same as you. many trader buy it, the demand becomes high. the price goes up.

This is the another example



this is the another example of spotting support and resistance. exercise it to improve. this the basic. when you think its enough. then if you want to use indicator just combine them. so the chance of winnng become high.
when there is chance that the specific timeframe is difficult to spot the support and resistance. dont push it. let the price move and it will change. there are many asset try and try until you find a high probability trade set up.


NOTE: there's no 100% in trading. price move depend on the speculation of every trader. if you want a sure profit dont trade. you cannot find it there.