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Post of the Day: Multiple Levels of Support

By Richard Krivo, Trading Instructor
14 April 2009 05:24 GMT

chart 4 13 09 A

Power Course Instructor’s Response:

Good observation...

Yes...you can have two levels and even more depending on the chart. Given the horizontal nature of the closest level of support to price action (S 1), I would draw the support line as represented on the chart below. The next level of support would be designated as S 2 and the nearest level of resistance would be R 1.

chart 4 13 09 B


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14 April 2009 05:24 GMT