so you want to learn more about support and resistance lines we're to trade them
how to trade them when do I enter all that fun stuff I'm going to talk about
it live in this video during a real trade showing you how I entered the
trade how I'm going to exit rate trading off the support in the resistance lines
those lines qde l had a resistance there at 3808 area bounced around there a
little bit and then went lower well I was kind of watching it was like I don't
know if I want to buy all think about shorting this area but then it's hard to
balance and I did it and then it started to balance it did I want to go lower so
I waited and got this little squeeze to jump back up here 238 10 end up getting
filled there at 3805 so right now the plan is you know maybe back down to 37
56 and then from there like to see another drop below 37 would be nice so
really that's the plan here we're going to see maybe down at 36 by the end of
the day so watching this one closely here in there at 3805 right now you can
see them up 48 dollars so far and looking for this to move lower volume is
drying up here so think we might get some selling going into the end of the
day here it's almost one o'clock so got a couple hours left of the market day
it's right there at the V web - so the view app is right there at 37 88 so need
that support to break I like to see us to start crashing getting some selling
here on q de l $130 right now and we're down there to 37:59 C we can't break
this 3750 area get that little quick drop we already take profit if I can get
down there got this support right here at the 37 45 areas you have to break
we'll get at the break looking for that move lower to that $37 area we're
sitting right here at this line 37 45 support holding there there we go
37 43 covering they're taking profit I'm over it I'm out of it I'm don't touch
any more like it wants to bounce here it's holding this 37 46 area I wanted it
to break I want to go lower but on the volume it's a sign of action on this one
there's better opportunities out there you can see right there literally thank
you lower later but it might just sit there and not move anywhere so it took
profit when I got it looking at the bigger picture here you know
I'm in charge this morning we jumped up from 35 57 up to 38 92 and then overall
in the dataset a downward trend had a couple double tops had this resistance
here at the 38 area you can see boom when I say resistance I'm saying the top
of these candles this sock did not want to go higher than that it hit 3808
multiple times could not go higher do not have the power and I have buying
going on there and just could not go higher also when I say support I'm
talking about this 3742 area you can see the stock has not gone lower than that
so it's in a very clear chain right now between that 3808 area and that 3740
areas when I'm looking to go short I'm looking to go short near resistance for
that move back to the support area if I'm looking to long I'm looking to go
long at the support area so if I'm wanting to go long in the stock I would
have bought it here at 37 49 I would probably take profit there at 30 80 area
if it couldn't break over it so those are the areas I'm playing support
resistance when I say support this is what I'm talking about the bottom of
these candles the stock did not get lower during that time frame I mean from
12 o'clock till now the stock has not gone below 37 40 and also the same way
when I say resistance there at the 3808 area the stock has not went above that
so it has been in that channel and we've been trading that watching it at that
resistance area which was perfect because it went to 38 10 I started there
at 30 805 and got that removed back to the support area so going short at the
resistance covering there at the support hopefully this helps you guys hopefully
this gives you an idea of how to play the support and resistance line I see
people keep commenting about what's the support how do I find the support how do
I find the resistance it's very obvious look at the chart guys look at the chart
look where the stock has stopped at look at the bottom of these candles the
bottom of these candles is 37 42 37 42 this one was a little lower but just a
little dip so 37 42 was the support there I draw my line there 37 42 and
then I drew my line up here the tops of these candle 3805 3806 so these are all
double tops and then BAM you can see that line goes across there line goes
across here and then I have my Clear Channel that's where I'm trading I'm
trading the tops or the bottom of these channels never trading in the middle in
the middle you just don't know if I traded this in the middle if I went
short it's a really a gamble because it might go up it might go down I'm trade
these key areas support resistance support here at the bottom showing the
Sakai support there doesn't go lower and resistance at the top there or the
stocks not going higher it's very simple so there it is hopefully this helps you
guys making $182 trading that support resistance there on-q de l going short
date