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2. Intermediate Charting 2.2 Support and Resistance 2.2.1 The Theory of Support and Resistance Levels 2.2.1 Quiz

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Question 1 of 5

1. Question
What are support and resistance levels in the market?
- Financial institutions that provide assistance to traders.
- Technical indicators used for trend analysis.
- Psychological barriers that influence buying or selling pressure.
- Purple lines drawn by indicators within the GhosTrades platform.
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Question 2 of 5

2. Question
How can support and resistance levels assist in trading decisions?
- They eliminate the need for risk management strategies.
- They guarantee profitable trades without any analysis or research.
- They help set specific risk percentages to use for each trade.
- They provide potential entry and exit points for trades.
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Question 3 of 5

3. Question
Why is it important to practice and gain confidence in identifying support and resistance levels?
- It allows you to understand where price action may stop and reverse.
- It helps you draw accurate trendlines on a chart.
- It ensures you always make profitable trades.
- It shows you where the price action will break out.
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Question 4 of 5

4. Question
How does support function in the theory of support and resistance?
- It accelerates a downtrend by increasing selling pressure.
- It has no impact on the direction of price movement.
- It creates a breakout of the current range.
- It halts or reverses a downtrend by attracting buying interest.
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Question 5 of 5

5. Question
What is the concept of role reversal in support and resistance levels?
- A support level that is breached may later act as a resistance level, and vice versa.
- Support and resistance levels remain constant forever.
- Support and resistance levels never influence each other.
- Support and resistance levels are non-extent on most charts.
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