People ussualy ask me in PM what do the lines mean, what are you looking at, show me, etc...
Let me offer you most simple explanation and show you the most powerful tools on the market you can have and aply to any technical analysys.
The lines are called support and resistance lines, they are drawn horisontaly on the chart. Colored light green on my charts. These are significant points in the past, where price turned or touched. More touches, stronger the line. Support means and it is drawn under the price, resistance is drawn above and it means price will have to break through to move up. When broken, resistance becomes support and other way around, when support is broken going down, it becomes resistance.
Look at the arrows ploted on the chart. To get the idea.
The catch is to get those lines drawn properly, because more people have them in the same level, better indication of the reversal change. Masters can allways trade just S/R lines, no need for anything else or any other holy grale.
Next thing, to add some view or perspective is observing the price movements is called Low's ans high's. When price is making lower lows and lower highs it is going down, when it is making higher lows and higher highs it is going higher. Based on this trend lines are drawn. Very simple. There are some variations of this, but please do your own learning.
I suggest forex trading school babypips.com or crypto trading school newscrypto.io
Both are perfect, maybe newscrypto.io has much more lessons and knowledge behind.
Let me offer you most simple explanation and show you the most powerful tools on the market you can have and aply to any technical analysys.
The lines are called support and resistance lines, they are drawn horisontaly on the chart. Colored light green on my charts. These are significant points in the past, where price turned or touched. More touches, stronger the line. Support means and it is drawn under the price, resistance is drawn above and it means price will have to break through to move up. When broken, resistance becomes support and other way around, when support is broken going down, it becomes resistance.
Look at the arrows ploted on the chart. To get the idea.
The catch is to get those lines drawn properly, because more people have them in the same level, better indication of the reversal change. Masters can allways trade just S/R lines, no need for anything else or any other holy grale.
Next thing, to add some view or perspective is observing the price movements is called Low's ans high's. When price is making lower lows and lower highs it is going down, when it is making higher lows and higher highs it is going higher. Based on this trend lines are drawn. Very simple. There are some variations of this, but please do your own learning.
I suggest forex trading school babypips.com or crypto trading school newscrypto.io
Both are perfect, maybe newscrypto.io has much more lessons and knowledge behind.