What Happens To Support And Resistance When Tested By More Than 3 Times?
Kung gusto mo ng quality conversation about trading and technical analysis ay pumunta ka sa Traders Den na FB group.
One topic we discuss some days ago ay patungkol sa support at resistance.
Does S/R get stronger or weaker kapag natetest?
Weaker kasi parang line of defense yan sa panahon ng gyera na if ilang beses mahit ay humihina at eventually nabubutas.
Stronger kasi every time pumunta doon ang price ay nagbobounce ito ulit paakyat. Meaning madaming traders ang nagdedefend or bumibili sa zone na yun. The more na hindi siya nabubutas ay lalong dumadami ang naniniwala sa support area na yun kaya dumadami ang pumapasok na buyers.
Well, kung iisipin mo ay para maidentify mo ang support at resistance level dapat pumunta muna doon ang price sa level na yun at hindi na tumuloy pa beyond those levels. Hindi mo matatawag na support at resistance ang level na yun kung hindi natest ng price. Yung “testing” of support and resistance level is necessary para matawag siya na support and resistance level.
What makes it stronger or weaker relies on what happens after the test.
Some support and resistance level gets respected while yung iba naman ay nabibreak.
It all depends on what the market decides to do.
May mga nag-aabang sa resistance na mabreak para umentry sila at may mga nag-aabang din sa support na maghold para umentry sila.
Minsan tama ang nagtrade sa resistance breakout. Minsan naman tama ang nag-abang sa paghold ng support.
Nakadepende sa kung ano ang ginawa ni market sa price.
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