Support
Support is a price where buyers stepped in before and stopped a fall. You draw it at the low of the candle that turned price around, and your stop goes beyond it.
In depth
A level needs a reason. Price was falling, a candle printed with a long lower wick and closed near its high, and the fall stopped there. That low is your support. Draw the line at the wick extreme so it does not cut through a candle, and use the daily, four-hour and hourly charts rather than a five-minute one.
Support is two-sided. While price holds above 100 you can buy it, with a stop below. Once a candle closes below 100, that same price becomes resistance and the buy is gone. Keep three supports and three resistances, no more. A chart with fifteen lines gives you a line near every price, which is the same as having none.
Why it matters
Support is what makes a stop a decision rather than a guess. Buy at 100.20 with support at 100 and your risk is defined before you click. Without a level you pick a round number, get shaken out by noise, and cannot tell a wrong idea from a stop placed in the wrong spot.
The free Morning Map draws zones on SPY, QQQ and IWM before the open, so you start with levels rather than a blank chart. After the trade, replay puts your fills on a TradingView chart and you can see whether price respected the level you drew.
Frequently asked questions
Find the candle that stopped a fall and draw the line at its low, on the daily, four-hour or hourly chart.
Three, plus three resistances. More lines than that and every price looks like a level.
Keep your Support trades on the record in TraderLog
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