(Last Updated On: May 11, 2020)

I always like to start from where the last price is and start to expand out from there. Right. So if we take a look right here this was pretty about the last done price and if you just look across the line across, you realize, okay, this seems to be where is a key horizontal support level somewhere maybe about 125 region. Again, it is not a precision precise kind of thing, but it’s always good to roughly see and make a stand on where the support resistance is. Okay.

As you can see over here, this is where the key horizontal support is likely to be. So as you can see here, right now the price is in between these two key supports or maybe even if we take a look here, is this way it could be a minor support. Yes. So it seems like here could most likely be a minor support and it has turned down more like because of the downtrend line rather than because of the horizontal line.

So if we are talking about strictly on key horizontal support resistance level, these are probably the two main lines that I personally think are the closest to the current price right now. And this is probably the range that you will likely get stuck in between for a while and before you will have to overcome either of these to show us clearly what is the next inclination thereafter.

And then of course, usually I would just go on to draw a few more, a few other layers of the support resistance level, the still subsequence level thereafter. So probably if you just put into here, you will be good enough because by the time if the price ever comes up to about 130 region, then you probably start drawing new resistance level. Okay. But beyond that, usually two or three key resistance and the next two to three key support level will be generally good enough.
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