gu @Snaps70 I am very new to Technical Analysis and have just learned how to find support and resistance recently. I am yet not able to analyse of a particular resistance or support would be broken. Which you have done here in a great way. How can i learn this and also how can i learn to interpret other's charts. Please point me in the right direction, any help would be really appreciated. Thanks
Snaps70
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@rahul3832, I am self taught. I always use 2-3 upward trend lines hitting as many green candles as possible. I us a conservative one based off the bottom of the candles and then a couple more progressive ones. I then plot the same for down trends. The Stop-buy, caution-buy, and buy triangles tend to pop out themselves, I just color them in for visualization.
Snaps70
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@Snaps70, I alway start on a 1 day chart and then work back to a hour to fine tune it.
rahul3832
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@Snaps70 Thanks for explaining, I would try to practise the same. Also great to know this, a lot of the people who are good at anything are self taught. Can you share some links to blog posts/tutorials/videos i can also learn from
Snaps70
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@rahul3832, I watched a couple videos on youtube about trend lines, baselines, and marking bull flags? I think they call them (where the downtrend crosses your up trend). To be completely honest I learned most through playing with the charts and trying to see the patterns. I always play more conservative than needed though, as I am self taught...lol
Indiobear
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i was thinking of selling some at 1500
Snaps70
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@Indiobear, I might hit that. I don't know how soon. I have bought every dip and made money. You don't necessarily have to sell I just buy dips.