Support and resistance are key concepts in technical analysis that help traders identify where price is likely to react.
Support acts like a floor — a level where buying interest is strong enough to prevent further declines.
Resistance acts like a ceiling — a level where selling pressure can stop price from rising.
These zones often lead to bounces, reversals, or breakouts, and are used to plan entries, exits, and stop-losses.
How to Identify them:
1. Assess the chart.
2. Identify Swing Points: Look for repeated highs/lows and label them. (Flags)
3. Multiple touches: Highlight the zones with multiple touches. 2+ Touches are stronger.
4. Define: Clearly define the zones. Above is resistance, below is support.
5. Entry: When price makes it way down to support, wait for the reversal. Upon reversal enter on the low time confirmation. Ensure price has failed to break below the support.
Then set TP to the previous High/Resistance zone.
Tips:
Always treat S&R as zones, not exact lines.
Combine with trend, candlestick patterns, or volume for better confluences.
Avoid trading into strong S/R — wait for breaks or retests.
Support acts like a floor — a level where buying interest is strong enough to prevent further declines.
Resistance acts like a ceiling — a level where selling pressure can stop price from rising.
These zones often lead to bounces, reversals, or breakouts, and are used to plan entries, exits, and stop-losses.
How to Identify them:
1. Assess the chart.
2. Identify Swing Points: Look for repeated highs/lows and label them. (Flags)
3. Multiple touches: Highlight the zones with multiple touches. 2+ Touches are stronger.
4. Define: Clearly define the zones. Above is resistance, below is support.
5. Entry: When price makes it way down to support, wait for the reversal. Upon reversal enter on the low time confirmation. Ensure price has failed to break below the support.
Then set TP to the previous High/Resistance zone.
Tips:
Always treat S&R as zones, not exact lines.
Combine with trend, candlestick patterns, or volume for better confluences.
Avoid trading into strong S/R — wait for breaks or retests.
Note
Hopefully this guide has become of use to new, novice and experienced traders. If anyone has any guide requests! Please let me know, I'd be happy to make one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Check out my socials and join the discord server to learn more!
⭐ linktr.ee/BennyBag33
⭐ linktr.ee/BennyBag33
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.