$TRB Identify Peaks and Valleys:
Look for horizontal peaks (resistance) and valleys (support) on a price chart.
Connect these points with lines to create trendlines.
In an uptrend, connect higher highs; in a downtrend, connect lower highs and lows.
Angular Momentum:
Drawing support and resistance lines is like deciphering a “Magic Eye” picture.
Adjust your perspective to see the bigger picture.
Example: Observe $AAPL’s daily chart with three touches of support and resistance1.
Multiple Criteria:
Consider multiple factors when drawing levels:
Swing highs and lows.
Historical price action.
Recent levels.
Obvious levels.
Levels that serve as both support and resistance.
Practice and Patience:
Learning to draw S&R takes practice.
Study hundreds of charts over several months.
Use technical analysis indicators (e.g., moving averages, VWAP, MACD) for better precision12.
Remember, when going long, buy at support; when going short, sell at resistance. Keep it concise and effective! 📈🔍
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