Three Effective Methods to Identify Support Levels!
Support is a price level where potential support may stop a downtrend. It is a useful strategy for determining entry targets in the stock market.
By identifying support levels, guys can time your buying at low prices and make well-informed decisions about when to enter the market.
Today Cici will share with you three method to find support levels:![]()
1. Connect the periodic lows of the price chart
2. Draw a trendline following the price movement
3. Observe the moving average
However, as there are many other factors affecting stock prices, sometimes support may be broken. Therefore, we need to combine additional technical analysis tools to increase our chances of making profitable trades.
If you are interested in learning more about other technical indicators welcome to study our course “Trading Tutorials-Techinical Indicators”!![]()
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SSS AhHuatKopi : Effective process of spotting a gd setup
) hopes this help in ur trading journey.. ps I not guru only 1 yr experience but my trades may be more the regular trader . May all Huat big big!
1) find possible setup/ using indicators/ stop line/ moving average /whatever u r comfortable using)
2) set stop loss n take profit / risk reward
3) once reach target price , dun hesitate to press the button (easy say then done) takes awhile to master the no hesitation (well maybe for me)
4) let Mr mkt do his job (win/ loss just take it) dun watch the mkt if u can’t the heat after pressing the magic button / set alert .. if sensitive to red (maybe change ur colour of bid n ask from red to green .. haha joking
LifeLongLearner : I actually use all the 3.