What does Support and Resistance really tell you?
trading·@quickfingersluc·
0.000 HBDWhat does Support and Resistance really tell you?
## First things first: I do not care about resistance. I might take some profits around resistance areas, but it doesn't effect my trading much.. For me, its all about support/bases.. Lets dive into the charts and try to understand what those support/base areas are really telling us. <iframe width="560" height="315" src="https://www.youtube.com/embed/J3CMHqfE2-c" frameborder="0" allowfullscreen></iframe> So I hope this video helped answer some questions about how to draw support/bases and feel confident about your trade entries. As you can see I usually layer into my trades and get bigger size the better the deal gets. But it takes time to feel comfortable trading this way, so keep your trade size small while your starting out. ## What were the 2 main points of the video: (1) When evaluating a base, the bigger the bounce (reaction) off that base, the more safe it will be when there is a crack (surprise).. Draw your support/bases at the bottom of the big bounces. (2) Keep your bases current. No need to go a month or two back to look for areas of support. Sorry the video ran a little long (40 mins), Ill try to keep them shorter. But thanks for watching, your **votes and comments** keep me motivated to keep putting out more videos. Please let me know when you catch a good panic dive and make some $$. I love to hear everyone making good safe trades. Luc
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