Vantage FX (www.vantagefx.co.uk) explore how support and resistance levels can be found by plotting different trendlines.
In part 3 of the Trendlines series, we look at how Trendlines can show traders support and resistance levels. In the first part of the video a Trendline is drawn, where resistance had been, and extended across the chart. From this we can see that the line that had been resistance then turned into support. Moving on, we also look at some chart patterns and how Trendlines can also be drawn using chart patterns as a guide, to again show potential support and/or resistance levels.