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What are Speed Resistance Lines?

April 26, 2017resistance speed

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What are Speed Resistance Lines?

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Speed Resistance Lines are a tool in technical analysis that is used for determining potential areas of support and resistance. This tool, consisting of three trendlines, is created by drawing the first trendline from the most recent low to the most recent high when the asset is in an uptrend, and from the most recent high to the most recent low when the asset is in a downtrend. The other two trendlines are drawn with smaller angles in an attempt to predict areas that will act as possible barriers in the event of a retracement.