Price moves within support & resistance. Once price breaks out of support/resistance, it will lead to movement within the next support & resistance zones. Usually a retest occurs before moving within the next area, which can be considered as a good level for entry ( unless its a fake breakout).
When price breaks through support, it then becomes resistance - in the same way; if price breaks resistance it then becomes a support zone.
When price breaks through support, it then becomes resistance - in the same way; if price breaks resistance it then becomes a support zone.
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Trading made stress free..
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.