* Watch in 1080 for cleaner resolution *
In this video I want to show you how support can become resistant or resistance can become support.
Let’s discuss support – which is where the stock is being held up. Stocks bounce at support level and drop back down on resistance level. It is this just a price level – it doesn’t mean it can’t break it or go the other way. It just means that that’s a solid level that have to go through in order to make some kind of progress now support can become resistant.
Watch various levels of support and resistance so you can see where the stock is being held up or is pressed.
See the Video Transcript at: http://tradersfly.com/2012/10/how-support-can-become-resistance-or-vise-versa/
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great videos, they've been very hepful
Thank you! (:
Hey Sasha, I just watched the previous video about double bottoms. I just recognised that pattern in the DXY0 chart if I am correct? What programme are you using to plot your charts? I find your videos very helpful to understand the stockmarket. Keep it up cheers Tom
Hi! Have you written the reason or mechanism why support and resistance lines exist? I think there should be some implicit rationale of benefit and cost to make them exist. If so, your book will be interesting for going through. I like reasonable explanations. Previously I was biased againt technical analysis because at the first glance, it didn't make any sense. Recently I've changed that idea. Those reasons should be implicit deeply.
Why do you use resistance and support lines on the change in volume and not the change in stock price?