Support and Resistance Levels (Elementary) 9 Created on June 20, 2023 By Over1251 Support and Resistance Levels (Elementary section) 1 / 10 _____ is a market level in a downtrend where prices find it difficult to fall further, whereas____ is a market level in a rising trend where prices find it difficult to grow further. Support, resistance Resistance, support Break, bounce Retracement, price open 2 / 10 At the support level… Buyers dominate sellers in terms of strength. The sellers' power outweighs the buyers'. Buyers and sellers have equal strength. The buying and selling power is undefined. 3 / 10 When the price exceeds the support level, it becomes...? A breakthrough A new measure of resistance Continues to provide support The trend line 4 / 10 How many highs and lows do you need to have in order for your support/resistance level to be accurate? One Two Three Four 5 / 10 What exactly is a trend line? A diagonal source of support or resistance A cracked support A line that follows a price fluctuation The pricing limitation 6 / 10 How many highs and lows are necessary for a solid trend line? Two Five One Three 7 / 10 How is a pricing channel defined? Price movement through a channel Two parallel threads of support and resistance A price road Priced resting site 8 / 10 When the price of a trade bounces off support or resistance, your confirmation candlestick should: Bounce of the support/resistance level and close above or below the support or resistance Maintain the support or resistance level. Break through the level of support or resistance Close at the same level as the level of support or resistance 9 / 10 What is the most conservative strategy to trade a support and resistance break out? Trade quickly after the confirmation candle has closed. Wait 15 pips after the break out for the price to move. Wait for the price to retest the broken support/resistance level before selling or buying. Only trade if a confirmation candlestick is a doji. 10 / 10 Where should you place your stop loss after buy on a support? Specifically on the extent of support Above the level of support Slightly below the level of support At the beginning of the candle confirmation Your score isThe average score is 64% LinkedIn Facebook VKontakte 0% Restart quiz
