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  1. #1
    Airbladeeqr Guest

    Default Resistance, Support Lines

    Hello Everyone

    I am new member here and just begun few DAYS ago learning with online trading stocks. For my case I would use platform called Speedtrader but I won't do any "real money" trades yet since I am currently at complete zero. Just started. Got some literature, mainly video tutorials and helping myself as much as I could via google research. However I got stucked on first step already, trying to learn how to draw on the chart resistance and support lines but so far no resource is helpful. Nothing that I can use. I have learned the basics about resistance and support such as what do they mean, how do they look like, for what they can be used after saving chart and opening it again, definitions, etc. However nothing I found was helpful when it comes to exact explanation HOW and where to draw them on support line. I know both (or one of them or none) resistance and support line don't need to be horizontal. Cannot go further with learning if I don't "master" the current learning step - drawing resistance and support line on chart. All resources so far that weren't helpful only explained what those two lines are for and showed charts out of nowhere with already drawn both lines. I am searching for accurate and perfect step by step explanation WHERE exactly on the chart can they be drawn. Along other facts about those two lines I have learned that both shall be drawn based on the following parameters (if I missed anyone, please let me know):

  2. #2
    Airbladeked Guest

    Default

    - stock should reach as many as possible times particular price
    - as much as possible trades successfully done on this price and its proximity (since i am total beginner, i currently have no idea when trade is successfully done and when not, what is the difference between red and black color on candle chart, how far is should be so it is counted as proximity,...)
    - as much as possible Recent info about price
    - as extreme as possible fall of price (if support line) and/or as extreme as possible raise (if resistance line)

    So my obvious question is: Could anyone please explain me how exactly and where to draw those two lines on charts? Under which other parameters? How do i decide where they will be? Some remote desktoping session (webinar) would be much appreciated too if possible.

    Thanks a lot in advance and will stay active as much as i can on this forum.

  3. #3
    Airbladevtz Guest

    Default

    First off, Welcome! Second -This comes with EXPERIENCE. Don't expect to understand this overnight. But you're on the right track. Don't try to OVER-ANALYZE. It takes time to get a FEEL for when/where to draw lines. It also depends on your chart time frames as s/r levels will change. Trendlines are ever changing. Many of s/r levels are on .25/.50/.75/whole dollar areas. Whole dollar levels will be some of the easiest setups to see. Keep in mind not every chart is clean. There are sloppy charts just not worth trying to plot out levels as there are too many. I look for the easy trades. Anyway, here's a few of the FREE things I have out there. I have seminars and videos for my subscribers that go into my trading style further and frequently add new videos discussing recent trades.

    Ascending Triangle patterns - Discussing supply vs demand equating support/resistance.


  4. #4
    Airbladeodl Guest

    Default

    Free intra-day setup recap video discussing a stock in play awhile back, but chart is still great to learn from.

    https://www.youtube.com/watch?v=tRdSmTopOJA

    StockCharts.com Chart School Support/Resistance page:

    http://stockcharts.com/help/doku.php...t_and_resistan

    Trading is truly an art form. Everyone can evolve their own style in time; and strategies are constantly changing. I hope you

  5. Default

    Blaine thank you for your reply. I appreciate your provided links but unfortunately they (excluding your sales letter - second page) aren't useful. I have seen those links already and nothing is actually explained there. Providing the fourth link makes me thinking I wasn't understandable enough so I will repeat what I look for: As complete beginner I would like to learn step by step how to draw R/S lines on the chart but for example on fourth link there is no explanation on this. Only what R/S lines mean. No instructions and first line on the first chart is shown literally out of nowhere. Not really helpful because I need to know WHERE on charts to draw them and why exactly there. Ideally (which probably won't happen) I am searching for step by step method such as:

    1. Search for X subject under A timeframe (x axis) and B price (y axis)
    2. Find the point in said location that meets Y conditions
    3. If conditions met, do Y subject, otherwise do W subject.
    4. Repeat first step for different point.
    5. Finally draw the line.

    I know such intructions might not exist but I would still like to ask you or anyone else for accurate tutorial/manual on this that will really explain well where to draw them on the charts. Currently Im stucked completely already on not even first microstep of start and cannot go further if I don't learn this. Also building cannot begin to be constructed in second floor if first one isn't finished, it will be demolished.

 

 

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