It is very safe to trade with support resistance but when we learn to trade we forget it after learning it or we are not interested in using it. But the use of support and resistance is very important in trading. Many of us run after strategy and forget or ignore the use of support resistance. The market always respects support and resistance or breaks out and moves in an up or downtrend.
I urge new trades to learn to draw support resistance with great care and observe the market to see the results for yourself.
Support and Resistance is important for anyone who is trading. If you’re still a newbie in trading, making use of Support and Resistance is going to be helpful to you in lots of ways. I have seen some analysts who make use of resistance and support to show people when they should sell and when they should buy. If you’re a new trader you can make use of the support level to know when you’re going to buy, or if you’re being short you can take profit at the support level, and take profit at resistance when you’re being long.
Easy to say but it is really hard to be executed because even we do know the support and resistance the current price market movement would make it more harder for you to make up
such decisions but i do agree that support and resistance is a default tool that you must use.
You can able to spot out on what levels do the price had been rejected and the possible point on where it can bump its head or might able to break it out.If you do know to spot
these levels then you can make your own entry and exit points.
This might be sounds too basic but it is one mainly needed.