Point no.1-Support– Look at the downward sloping blue line is acting as a support. 3 times the price reverse price from this area indicates strong support.
Point no.2- Resistance-Look at the downward sloping red line is acting as a resistance. Now the price is facing the resistance. Before that 2 times the price reverse from this area.
point no.3-Channel-Price Trading in a downward sloping channel.
Point no.4- Price starts reversing from the resistance area.
Conclusion
From the above chart, it is clearly seen that the price is trading in between the channel. Now look at the current candle is at one end of the channel that is in the resistance area. So there is a possibility price reverse from this resistance area.
Disclaimer- This post is for educational purposes only, our view is, to teach technical analysis only. we are not recommended to use this analysis for the purpose of trading. once again this is an educational forum only.
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Point no.2- Resistance-Look at the downward sloping red line is acting as a resistance. Now the price is facing the resistance. Before that 2 times the price reverse from this area.
point no.3-Channel-Price Trading in a downward sloping channel.
Point no.4- Price starts reversing from the resistance area.
Conclusion
From the above chart, it is clearly seen that the price is trading in between the channel. Now look at the current candle is at one end of the channel that is in the resistance area. So there is a possibility price reverse from this resistance area.
Disclaimer- This post is for educational purposes only, our view is, to teach technical analysis only. we are not recommended to use this analysis for the purpose of trading. once again this is an educational forum only.
marketsolutions.in