Do you know your Support & Resistance?

1 votes, 4 avg

Do you know your support and resistance?

How well do you know your support and resistance in trading?

1 / 15

To create a sideways (horizontal) channel, simply draw a parallel line….

2 / 15

An ascending channel is characterized by…

3 / 15

When a support or resistance level breaks, the strength of the follow-through move depends on…

4 / 15

If you buy when the price falls towards support and sell when price rises towards resistance, what are you doing?

5 / 15

When trading the break of support or resistance levels, the conservative way would be to…

6 / 15

Generally, the _____ of a channel is considered to be a ______ zone.

7 / 15

A descending channel is characterized by…

8 / 15

When we say “Price is trading within a channel,” how is it supposed to appear on your chart?

9 / 15

When drawing trend lines, you should…

10 / 15

How many tops or bottoms does it take to confirm a trend line?

11 / 15

When price breaks through a resistance level, it could potentially become…

12 / 15

What is created when you draw a parallel line at the same angle of an uptrend or downtrend?

13 / 15

If you buy when the price breaks up through the resistance and sell when the price breaks down through support, what are you doing?

14 / 15

What do you call a line drawn along the bottom of easily identifiable support areas (valleys)?

15 / 15

In a bull market, a ____ level is an area that price has difficulty breaking through to the downside.

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Support and resistance is an extremely important factor in forex trading. In fact, it can be so crucial that it affects your entry and exit points. When you combine support and resistance with chart patterns and other methods, you can determine more reliable places to place your trade entries and build a winning strategy.

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