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🧠 Speaking in plain language about trading | How reliable is the support you see?
Remember one thing: it's not useful just because you draw support; you need to see how the price reacts.
🔴 Poor support: Price hits support and gets pushed back, with a long upper shadow
Wants to rise but gets pressed down immediately, can't hold the ground below.
🟡 Fair support: Price rebounds, but not decisively, with an upper shadow
Someone is buying, but whether they can hold it depends on further observation.
🟢 Good support: Price gets pulled up as soon as it hits, with no significant upper shadow, closing high
Money is truly coming in, and this level is being held.
⭐ Core point: First, a rebound must occur; only then is support meaningful. Without a rebound, it's all just gambling.