How to earn $15 per day with Support & Resistance?

Hello…how are you?

Today in this article, I am going to talk about one of the most important trading concepts that every trader must know.

Whether you are a beginner or an expert. In the field of trading, you must know How to draw Support Resistance properly.

 Support Level: This is the price level at which the price of the stock, commodity does not fall any further instead the moment the candle touches the support level the price will bounce back up.

Resistance Level: This is the price level at which the price of the stock, commodity does not rise any further instead the moment the candle touches the resistance level the price will bounce back down.

What is Support?


The Support is the price level that acts as the soulmate of the bulls or buyers.

According to the golden rule of Support, the moment the candle touches the support level the price tends to bounce back up in the support of buyers.

According to the experts, it is very difficult for the candle to break the support level.

However, If due to any market reasons if the price breaks the support level. then it is preassumed that the stock or commodity will be dominated by sellers until the next support level.

What is Resistance?

The Resistance is just the opposite of Support. It is the price level that acts as the soulmate of bears or sellers.

According to the golden rule of  Resistance, the moment the candle touches the resistance level the price tends to bounce back down in the support of sellers.

According to the experts, it is very difficult for the candle to break the resistance level.

However, If due to any market reasons if the price breaks the resistance level. then it is preassumed that the price will be dominated by buyers until the next support level.

How to draw Support and Resistance?

How to draw Support and Resistance? This is one of the most important concepts that every trader must know.

Here, to illustrate Support and Resistance I am going to use Olymp Trade.

You can also sign up via the form given below.

Firstly, click this link and you land on the  Olymp Trade Homepage.

Click on Register.

Now, enter your email, password & click sign up.

Once you have signed up, you will land on the Olymp Trade dashboard.

Click on the chart button and select Japanese candlestick from the menu.

That’s it!! The basic setup is over.

Now, lastly, click the indicators button and select the Horizontal line from the menu.

Now, what you need to do is find two highs of the bullish candle and bearish candle at the same distance for resistance level.

Similarly, find two lows of the bullish candle and bearish candle at the same distance for support level.

How to Trade with Support & Resistance?

Trading with Support and Resistance is very easy.

You just need to remember is the golden rule of Support & Resistance.

The moment the candle touches the support level the next candle will bounce back up.

Similarly, The moment the candle touches the resistance level the next candle will bounce back down.

Now, let’s check some examples.

Given above is a 1-hour chart and as you can see both the times the moment the candle touches the resistance level the price falls back down.

So, here we should take a SELL trade.


Similarly, here the moment the candle touches the support level the price bounce back up.

So, here we can take a bulk Buy Trade.

Summing Up:

So, this is the end of this article I hope you found this article helpful.

So, as you can see trading with Support and Resistance is that easy.

You just need to remember the golden rule of Support and Resistance. you can also RSI to together for better results.


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