Support and Resistance,how do you notoce major zones amd fake zones

[Stock4]

When the market is approaching support i should look for potential buying opportunities


When the market is approaching resistance i should look for selling opportunities

 

[skrimon]

Identifying major support and resistance zones involves considering historical levels, round numbers, volume analysis, and trendlines on multiple timeframes. Genuine zones often show price reactions and are accompanied by higher volumes. Beware of false breakouts and stay informed about market events. Dynamic support and resistance from moving averages can also be considered. Always practice risk management and adapt your analysis based on changing market conditions.

 

[Fin_Trader]

I would not say that at these levels it is necessary to look for rebounds from them. They can break through, after all. Here you need to look at how the price reacts to these levels or zones and it would be ideal for some kind of reversal pattern to arise. Then you can try to buy or sell on a rebound.

 

[pippin]

Identifying major support and resistance zones involves analyzing historical price levels where significant buying or selling pressure has occurred. These zones are often found at round numbers, previous highs or lows, or where price has repeatedly stalled or reversed. To avoid fake zones, I look for confirmation from other technical indicators, such as volume, momentum oscillators, or candlestick patterns. Regularly reassessing and adjusting support and resistance levels based on current market conditions is also essential for accuracy.

 

[CinFX]

@ Experienced Traders

May I ask what Indicators or methods you prefer to use to map out Support and Resistance Zones? I would like to do more research on this, both for Forex as well as Synthetic Markets. The idea would be to combine several Indicators and Methods into a single Indicator.