Support Line Pdf For Free

The support level is a price point on the chart where the trader expects maximum demand (in terms of buying) coming into the stock/index. Whenever the price falls to the support line, it is likely to bounce back. The support level is always below the current market price.

To draw your lines using peaks and troughs, select your timeframe, then identify the highest peak on the chart and do the same with the lowest point. Mark each peak and trough. If there is a downtrend, the support level will be the lower-low peak and the resistance level will be the lower-high peak.

The support and resistance (S&R) are specific price points on a chart expected to attract the maximum amount of either buying or selling. The support price is a price at which one can expect more buyers than sellers. Likewise, the resistance price is a price at which one can expect more sellers than buyers.

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The basic strategy in the market is to buy an asset when prices are at the support level and to sell when prices are at the resistance level. It is important to note that support and resistance levels are not exact price points, but rather zones where demand and supply can change.

If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.

If you are using trend lines, make sure you have at least three peaks or three troughs before you draw your lines, so that you have a useable trend line. Then, once you've plotted the trendlines onto your chart, your uptrend line will be the support level, while the donwtrend line will be the resistance level.