ilmscore | Support & Resistance Crash Course - Everything you need | Trade with Purab

Predictions from this Video

Total: 10
Correct: 0
Incorrect: 0
Pending: 10
Unrated: 0
Prediction
Topic
Status
Support levels do not guarantee a price reversal.
"if the market reaches support, it is not necessary that the price will reverse from here."
Price Reversal
Pending
A support level will eventually be broken, leading the price lower.
"It will break it sometime. It will definitely go to 70 sometime."
Price Breakout
Pending
A resistance level will eventually be broken, leading the price higher.
"if it was at 100 on the upside, it will definitely go to 110 sometime."
Price Breakout
Pending
Predictions that support will always lead to an upward move and resistance will always lead to a downward move are incorrect, as breakouts can occur.
"if it reaches support, it will definitely go up, or if it reaches resistance, it will definitely fall, it can happen. Break it down as well."
Price Reversal
Pending
Traders should not rely solely on support and resistance for trading decisions; additional confirmations are necessary.
"you should not trade only on the basis of support and resistance, you have to look for one or two other confirmations there"
Trading Strategy
Pending
Support and resistance levels should be drawn as zones rather than single lines to account for minor price variations and provide better trading results.
"Support and resistance levels are always drawn in zones, never a single line is drawn for better and let's give you best results, because what happens is that sometimes there will be a difference of a few points because nothing is perfect, my brother"
Support and Resistance Zones
Pending
Trading directly at exact support/resistance points carries risk (approximation risk); using zones instead helps avoid missing trades or making mistakes.
"there is an approximation risk, if you go from the exact point then there will be a risk, similarly if you create a zone that if it comes anywhere between this zone and here then I can buy, then you will not miss out on anything and you will not make any mistake"
Approximation Risk
Pending
Price reversals at support or resistance levels are not guaranteed; the price may break through these levels.
"if the market reaches support, it is not necessary that the price will reverse from here. I mean, if the price was at 80 here, it was repeatedly hitting 80 and going up, it does not necessarily mean that it will remain at 80 all the time. It will break it sometime. It will definitely go to 70 sometime. Similarly, if it was at 100 on the upside, it will definitely go to 110 sometime. So, reversals are not guaranteed."
Price Reversal
Pending
A breakout occurs when the price does not reverse at a resistance level but instead moves beyond it.
"it did not, it did not reversal, it did not break through the resistance, which was our ₹100, this is called a breakout."
Breakout Trading
Pending
Traders should not rely solely on support and resistance; additional confirmations like chart or candlestick patterns are necessary for making trading decisions.
"you should not trade only on the basis of support and resistance, you have to look for one or two other confirmations there, like for example, you found a good pattern there, a chart pattern, a candlestick pattern"
Trading Confirmation
Pending