Beginners Guide To SUPPORT & RESISTANCE (A Simple Strategy That Actually Works)
Published: 2020-09-25
Status:
Available
|
Analyzed
Published: 2020-09-25
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker plans to look for short trades on the Euro Dollar if the price returns to a specific zone.
"i'm planning if this market gets back to my zone to look for possible short trades out of this zone to the downside"
Pending
The speaker will look for long trades on the Euro Dollar next week, specifically in the indicated area.
"i'll be looking right here on the euro dollar moving forward into next week for possible long trades"
Pending
If the Euro Dollar falls to the 1.1447 to 1.139 range, it will officially be in a downtrend.
"yes if we get down to 1.1447 between that and 1.139 we will officially be in a downtrend here on the euro dollar"
Pending
If the Euro Dollar trend continues downward, the speaker will look for short trades in the indicated area on lower time frames.
"then i'll be looking around this area you can read the numbers for possible short trades on lower time frames looking for entries"
Pending
The speaker will trade short from two identified counter-trend levels on the Euro Dollar in the coming weeks.
"i'll be trading short trades from those two counter trend levels"
Pending
If the Pound Dollar reaches the level at the bottom of the blue box (1.2711), the speaker will look for long trades on lower time frames.
"if this market got to the level i have my blue box on now which i can't see the numbers for i know at the bottom of it is 1.2711 though i said if the market gets there i'll be looking for possible long trades on lower time frames"
Pending
If the Pound Dollar breaks below a certain low, the speaker will look for short trades until the 1.278 to 1.2711 support level.
"if the pound dollar pushes down breaks below this low and closes below this one then i'll be looking here for possible short trades and i'll be looking for those short trades until we get down to our next level of major support between 1.278 1.2711"
Pending
The speaker is currently long on the Pound Dollar because the price is in a specific support zone.
"i am actually long on the pound dollar because we are in this zone"
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The speaker anticipates another bounce on the Pound Dollar, at least up to the previous resistance level.
"i think we could get another bounce at least up to our previous resistance level"
Pending
If the Pound Dollar moves down significantly, the speaker will pay attention to a specific area for potential trades.
"if we move down dramatically what are the levels i'm going to be paying attention to for possible trades well the one that stands out for me and i'll go ahead and pull this bad boy down is right around this area"
Pending
A specific area has been identified as the next zone for potential counter-trend trades on the Pound Dollar if the price reaches it.
"this is going to be my next zone of possible counter trend if we get down here"
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The speaker will look for short trades around the 1.278 level on the Pound Dollar.
"i'll still look for possible short trades out of the level around 1.278"
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If the Pound Dollar price moves above a certain area, the speaker will look for a pullback and continuation.
"if the market pushes up above this area i'll look for a pullback into it in a continuation"
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If the Pound Dollar price returns to a specific level, the speaker expects it to act as resistance again.
"if we get back up to it i'll be expecting it to become resistance again"
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The speaker believes the Aussie Dollar is due for some relief and identifies a structural level as a good place for this.
"i do believe that the aussie dollar is ready for some type of relief i think this level of structure would be a great place to have that relief"
Pending
The speaker anticipates a bounce on the Aussie Dollar up to previous support levels, but still expects the overall downtrend to continue.
"i'm not looking for a complete reversal in this market to head much higher i think we're overall going to continue this downtrend but i do believe i can get a bounce at least up to these previous support levels"
Pending
If the Aussie Dollar price pulls up, the speaker will take short trades from the indicated area.
"i'll be doing if the market pulls up is taking short trades from this area"
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If the Aussie Dollar price breaks past a certain level, the speaker will take long trades from that area.
"if the market breaks past it i'll be taking long trades from this area"
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If the Aussie Dollar continues lower, the speaker will look for long trades between 0.6863 and 0.6800.
"the next thing i'll do if we continue lower is look for possible long trades out of 0.6863 between that and the even handle number of 6800"
Pending
If the Aussie Dollar continues higher after breaking a level, the speaker will look for resistance around 0.747.
"if we continue pushing higher even after breaking this level i'll be looking for resistance around 0.747"
Pending
If the Aussie Dollar price returns to the resistance zone between 0.7412 and 0.7369, the speaker will look for resistance there.
"if the market gets back to my previous resistance between 0.7412 and 0.7369 i'll be looking there for possible resistance"
Pending
If the Dollar Yen continues to decline, the speaker will look for long trades in the indicated area.
"if the dollar yen continues down i'll look here for possible long trades"
Pending
If the Dollar Yen price falls to the range of 102.49 to 101.98, the speaker will look for support.
"if we get down to 10249 to 10198 i'll look for possible support"
Pending
If the Dollar Yen breaks higher, resistance is not expected until around the 107 level.
"if we break higher i won't be looking for resistance until this area maybe around 107"
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The 107 level is likely to act as resistance for the Dollar Yen.
"it's likely to use 107 the even handle number as resistance"
Pending
If the Dollar Yen reaches between 109.4 and 110 in the coming weeks, the speaker will look for shorting opportunities.
"if we by some chance get up to around 110 then i'll be looking between 109.4 to 110 for possible shorting trades out of the dollar yen throughout the next couple of weeks"
Pending
If the Dollar Swiss price heads higher and reaches the zone between 0.9258 and 0.9213, the speaker will look for short trades.
"my preparation is now if this market heads higher and gets to my level between 0.9258 and 0.9213 i look for possible short trades"
Pending
If the Dollar Swiss breaks above a level and then pulls back, the speaker will look for buy trades.
"if we break above it and pull back i look for possible buy trades"
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The target for the Dollar Swiss trade is the previous resistance level, which could turn into support.
"target down here at the previous level of resistance that should or could turn to support"
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The speaker was looking for resistance in a specific zone on the Dollar Swiss to push the market down.
"i was looking at for possible resistance to push the market down"
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It's possible to achieve profits on the Dollar Swiss without a full market reversal, as demonstrated by the live trade.
"i can easily hit profits without this market having to reverse and that's what you saw on the live trade that you just looked at"
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A double top pattern on the Dollar Swiss requires confirmation, specifically a red candle, to indicate a potential downward move.
"we get one top followed by a neckline of a double top we get our second top right here and what do i need after the double top confirmation what is confirmation i was waiting on just a red candle that shows me that the market could be pushing down from this level"
Pending
If the Dollar Swiss price goes above the highest high of a double top, it indicates trend continuation, and the speaker would exit the trade.
"the rule that i have is that we just have to be above the highest high of the double top because at that point we're going into train continuation i don't want to be a part of this trade for double tops"
Pending
A 1.2 to 1 risk-reward ratio was achieved on the Dollar Swiss trade, targeting the previous resistance level.
"we have a 1.2 to 1 risk reward back down to our previous resistance which was perfect for me"
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A previous resistance level on the Dollar Swiss has now become support, a common occurrence in the markets.
"that level of resistance became support again this happens time and time again in the markets"
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