Learn the lines: What are the "support line" and "resistance line"?
The ones that actually affected price movement,
there existsbuying pressure that overcomes selling pressure“Valley”is called“Support”,
There existsselling pressure that overcomes buying pressure“Mountain”is called“Resistance”.
From those supports and resistances,
rebounding or breaking through will influence subsequent price movement,and thus become a standard for buy/sell decisions aligned with each forecast,
and the level tends to experience intense battles.
For those,
the ones that actually draw a “line (horizontal line)” against those supports and resistances,
are the “Support Line” and “Resistance Line.”
The effectiveness of line resistance historically depends on,
how many times it resisted at the same level,
how long trades occurred there,
which in turnincreases or decreases attention,
(When a line has resistance twice or more, it tends to become strongly noticed)
Traders around the world focus on finding lines with high attention,
and there is no difficulty in identifying such lines,
even beginners can draw clean lines,
which tend to attract more attention.In other words,
Although line trading may seem difficult,
the core lies in not overcomplicating it.
Below are cases where the Support/Resistance lines (yellow horizontal lines) influenced
the SLP (Support/Resistance) conversion occurred.
【5-minute chart】
The support line that had resisted three times was broken down, and afterward,
in the arrowed area, the resistance by the SLR conversion caused it to fall again.
(After a strong breakout, SLR conversion is more likely)
When the support line that had been supporting three times is broken,
that line then acts as resistance,
and takes on a role of restraining from above.
Lines that go against the trend direction tend to break,
lines that follow the trend direction tend to rebound,a characteristic that influences many price patterns including SLR conversions.
【15-minute chart】
【5-minute chart】
As a result of the SLR conversion,
on a higher time frame as well, since it was a down break,
after breaking the most recent low, it rapidly fell with momentum.
Lines that work cleanly attract attention,
and afterward, the development tends to become straightforward.
There are several standard patterns in line trading,
and you can confirm them widely on the internet, so please study them.
We often receive questions about this, so we’ll answer here as well,
‘TrendlineProtwo developers・A proprietary line trading method’,
does not exist,and must not exist.
Rather, draw lines in accordance with principles and foundationsand devote yourself to the standard line trading that everyone notices,
so that you can ride the flow of the “majority” and
focus on finding a clean chart.I would be glad if you could concentrate on this.
