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
@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 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
@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