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Thursday, March 22, 2012

How to Find and Use Support and Resistance Levels on Trading Charts to Make Buy and Sell Decisions - The Breakout Trading Strategy

Support and resistance levels can be a valuable guide when making trading decisions. This article explains how to find support and resistance levels on trading charts and how to use them to make buy and sell decisions. Support and resistance levels, or lines, are used in what is known as the breakout trading strategy. The article explains that the trader needs to look for a price breakout below, or above, the levels of support or resistance. These breakouts indicate potential sell or buy signals. Advice is included about backing up trading decisions with other research, as well as using good money management techniques. The conclusion advises caution when trading as it is a high-risk activity.

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