Support And Resistance is most important topic in binary option
Support
Support is a price level where a downtrend can be expected to pause due to a concentration of buyers/buying pressure
You can consider it that a support is a level from where market change its direction
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| Support |
Resistance
Resistance is a price level where an uptrend can be expected to pause due to a concentration of selling/seller pressure
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| Resistance |
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| horizontal line to draw SNR |
How To Draw And Observe SNR
To Draw SNR u will use Horizontal Line and for channeling market u will use Trend Line.
the concept is simple always draw a line from where the market reversed many time
Difference Between Strong VS Weak SNR (SNR & SSNR)
Strong Support and Resistance are those levels from where the market changes its direction multiple times usually minimum 3-4 touches or more
in other words multiple reversals of the market from a certain level
- now try to observe the market touches and reversal from the level
if the ratio of breakout/fake breakout is greater than the reversals it means that the market is not respecting that particular level
Here is an example of Weak SNR
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| Weak Snr candles are not respecting |
Important:
- Don't make a SNR Zone / Area (but in some cases u will use )
- Use a single line to draw SNR
