Support and Resistance SIMPLIFIED

What do you think?

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  1. way off topic but i need your help:)

    I wanted to get some alibaba and in hkd, but instead of using the simple exchange option im my web account at IBKR i used the USD.HKD trade option in the worksatation app

    after that i was able to buy the shares on the honkong exchange but now i have a USD.HKD position in my portfolio:)

    i thought if i use the usd.hkd pair sell ill get HKD to use for the purhase but now i suspect this is not the same as simply exchange on the web interface. any info on this? or experience

  2. To add: every time a support level is touched, more and more buyers are 'satisfied', and so the support grows weaker as buying pressure decreases. Similarly, every time a resistance level is touched, more sellers sell, so the resistance grows weaker. There are no guarantees, but generally after a massive move down you can expect a revisit of support at least one more time, so don't rush to catch knives.

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