themarketzone

Trend line changing roles

FX:SPX500   S&P 500 Index
Here's an example of how trend lines are changing roles as the Price cross above/below them.
In this example we can see several trend lines that once broken (to the upside or to the downside) they change roles from resistance to support and vice versa.
In this chart the focus is on one trend line and how the price reacts to it when it changes its role from support to resistance.

Basic stuff... yet powerful .

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