Buzz
Follow these steps below to utilize the support and resistance tools on Binomo for accurate predictions of price reversals on Binomo:
Step 1:
Open the price chart. At this point, you will observe the price of any asset moving either upwards or downwards. Pay attention to the peaks and troughs of the movement:
Step 2:
Choose the Horizontal tool, position it at the bottom of the platform, and draw a line across all points where the price changes (rises or falls) twice or more:
The price level where it bounces back in the downward direction is called resistance. If the price bounces upward, it is a support level.
When the price reaches either level, there is a high likelihood of a reversal.
If the price consistently bounces back from a level, that level becomes stronger, and the quoted price becomes more resistant to change.
