Importance Of Support And Resistance In Trading BOOM And CRASH | Binary.com

 Importance Of Support And Resistance In Trading BOOM And CRASH | Binary.com

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hello guys i welcome you all to today's  video it's another beautiful week moment   with us here at correct digital cache and if  you're new on this platform this is a platform   which i used to share with you my ideas on  how you can make some money for yourself   online okay most especially within the forex  nature key in today's video we'll be checking out   in the importance of support and resistance level  in trading boom and crash okay the importance of   support and resistance levels in trading boom and  crash okay you need to know how important they   are in order to make this assets successfully  then you need to know the functions of all i   mean of these two um tools okay in order to trade  these assets successfully so once you understand   the effect of the support and resistance  levels then you will know what to do whenever   um you are around the support and  resistance level and how to use them   to take advantage of the market okay but before  we go fully into that guys look before we go fully   into that in case you are just joining us for the  first time i welcome you all to cora deleted cash   there is a platform like i said it's a platform  for training you on how to trade forex um   assets successfully and make some money with it  and of course i thank you guys for supporting me   all these wise and i also thank you for taking  advantage of the 500 dollar trading tips   for trading women cry that usually come up  later on in the day okay so um don't do not   forget to join us again today um whenever we'll  be doing that live and direct so that we can   build the market successfully but of course  um if you are joining us for the first time   um like i said it's a forex not channel you can  take your time to browse through the channel   watch some of my video clips and make sure um you  understand practice and perfect your skills first   on your demo account before you try them out on  your real account okay um they are all training   videos that can get you started immediately if  you love them can you give me thumbs up and share   with families and friends and of course if you  have any questions about any of my videos or   probably want to know more about my trading  strategies and you would like to know more   um about some of my trading tools feel free  to contact me my contact details are displayed   on the screen and i'll be dropping them in the  description box below this video and of course   um if you are here to subscribe to this channel  then you are missing a lot okay because you won't   be notified whenever i upload a training video  like this so all you just need to do is just to   browse through the charming to chat below this  video for the subscription button click on it   and also turn on the notification bell beside  it to all notification that way you always be   notified whenever i upload a training video like  this okay quickly we'll be going straight into   what we have for today but before we go straight  to the charts okay let's quickly do a few things   using the board so that you guys will understand  what we are all into okay we are discussing about   the support and the resistance levels okay the  support and the resistance levels these two um   particular i'm going to call them a trading tools  okay um they are very very important whenever   you are trading of course um let me do it this way  let me do it this way um let me change this to um   resistance because resistance is always at the  top in most cases and um um this should be support   sorry this should be supports okay so the  resistance and the support levels okay   so um the first thing you need to know is that um  the boundary um these two levels are the boundary   outreach um the price action usually reverse in  most cases okay they serve as a kind of boundary   uh whenever a price action is going towards a  direction okay so you always find the resistance   level at the top yeah while the support level is  at the base in most cases okay so when the price   action is actually going up okay uh in most  cases you notice that it finds it difficult   to break out from a certain region and it's  actually um creates a kind of multiple points   i mean more than a single point on a certain  region and those areas are called i mean that   particular place is called the resistance level  and the same thing is applicable for a support   okay once it gets to a certain region you see it  trying to make several attempts on that region   that section is called the supports region  okay all these tools are very very i mean this   um these two particular assets i mean our trading  tools are very very important okay because   um they helps us to know what is happening  around there okay the helps us to know what is   happening around it then another beautiful thing  you need to know about the resistance level is   in most cases um a major resistance level  if a price action is starting up from there   it usually tells us it helps us to know that  our a new trend is about to stand from there   you can easily use it to know if a trend is  starting from there so from a resistance level   and if a price action is going below a resistance  level then it shows that a downtrend is starting   but if a price action is going above this  support level it shows that um a an uptrend   is starting but if there is a breakout in price  action from the resistance level that is it   broke up above it it shows that the uptrend is  starting or there is a breakout in that region   okay so which means this supports level i mean  this resistance that will be turned into a support   level at that particular point the same thing  is applicable to the support region okay uh once   there is a breakout below the support region then  there is a it shows that there is a breakout and   it will continue with the downtrend at least to  some extent and this support region will now turn   into a resistance region okay that is very very  important for you to know once you know all these   then you will be able to milk the market  successfully okay guys i'll continue right here   then there is another thing i want you to know  quickly there is another thing i want you to   know quickly okay um once a price action um like  i have explained any price action that starts from   the support level usually indicate that um  the trend is changing in most cases okay not   all the time there can be a pullback okay in most  cases and most especially from a major support or   resistance level the trend is changing okay  so let's say the price action is actually   going up okay it has been going up and it goes to  this let's say it gets to this resistance level   the first thing that should come to your mind  is that there can be a pullback or a reversal   in price action okay so you should stay away from  the market it can serve as an exit point for you   because out there can be a pullback so once it is  approaching it stay away from the market because   um it is most likely that we have pullback except  if there is a breakout so once you are out of the   market and it pulls back you won't be affected  at that point but if it breaks out from there   then you can come in around here and trade the  breakout okay the same thing will happen with a   support region okay with a support region let's  say the price action is has been coming down and   it is now approaching this support region the  first thing that should come to your mind is   you exiting the market around here okay exit the  market around there because you came in right here   this is your entry point so you should exit the  market around here because out it is most likely   without pullbacks are playing around there or a  total reversal in price action and if you are not   very careful you end up losing your profit and  sometimes you lose your capital again okay but   if it breaks out above the support level damage  this has been turned into a resistance level so   you can come in somewhere and trade the breakout  in order for you to milk the market successfully   so guys we will be going straight into the  chat right now to check out it i mean all   to check out everything that i have explained on  the board in practica um i mean to practicalize   them on the charts right now we'll be  practicalizing them on the charts right now   okay so this is the chart uh right here i'm having  the qdc scripter indicator on the chart and it is   going to show me my support it is also going  to show me how my entry point exit point then   of course it's also going to show me the trend  because the trend is also very important even   though we are not talking saying anything about  the trend today okay so let's check them out okay   right here is a major resistance level okay you  can see it uh when the price action goes to this   resistance level you see it's coming down okay  this is a support region and you can know that   drawing a line you can see it's it is a support  region that is why um the price action are   bouncing on eights okay they are bouncing back  on it it is a support region so you can easily   identify that okay so check it check this  out um this got to this resistance level came   down to the support region went back up to form  another resistance level here came down here to   sim support region went back up came down to this  support three germany region again went back up   you can see that at every point at every support  and resistance level there is always a pullback   okay there is always a pullback but check out here  our year is a resistance rate resistance region   but you can see that um when the price action got  there this time around it's broke out from there   and to form another resistance region at the top  here the same thing happened right here okay here   is a support region and it's been a support  region for some time but one when the price   action goes to this level at this particular point  you can see that it broke out from here to form um   another support region below here and it went back  up and break out that resistance there because it   has found it has turned out to be a resistance  level again and it went straight to this level   so all these are very very important check out  what is happening here here is a resistance zone   okay but the price action has got in there  and it is trying to break out from there okay   so i'll try to show you the breakouts and  also when there is the pullback and also   when there is a total reversal in price action  check out here here is a support region okay   on the price action got here it was  unable to break it went back up that's   the pullback it went back down again to that  same support level but still was unable to break   it and it went back up again this time around  it led into an uptrend like i used to tell you   okay it can i'll lead into a new trend or to  continue the previous trend i was going okay this   is to continue the previous train that the market  was before out it's it's pulled back okay so that   is it you can see it is trying to break out  from this resistance zone this time around okay   so that is what we call the resistance i mean  breakout from the resistance region so once   it breaks out from there then definitely now that  will return into a support region and that is why   you notice that some indicators okay um i can also  use this indicator as an example okay once it is   broken once it breaks out from this resistance  region this can actually be erased the resistance   bar can actually be erased because it has broken  it already it has been broken already is not that   the indicator is not perfect or it's not that  the indicator is not doing its job of course you   can see that it has obeyed that resistance level  around here before so definitely is expecting it   to obey it again around here normally if you are  doing your technical analysis you will be able   to spot that out does that mean your analysis is  wrong if you actually spot that out no you cannot   um you you cannot control the forces that is  affecting the market on hundred percent okay this   time around it has broken it out there is nothing  you can do about it so it's no longer a resistance   level to turn to a support level so if it's erased  that's resistance but then there is a reason for   raising it for erasing it or for deleting it  okay then the reason is that it has been broken   i mean it has been broken already okay  so let's check out other assets to see   what we've got right there you can see this is a  major support level you can see the price action   started from here and you can see how far it went  okay even though there are pullbacks in between   to form another our support region but it still  went up to end the resistance i mean to end um   the trend right here on this resistance level okay  so it has ended the trend the uptrend right here   on this resistance level so it is starting a new  downtrend at this particular point so your support   and resistance level are very very important let  me quickly go to the jumbo another importance   of this support and resistance levels are up  that is where we usually have spikes happening   okay let me quickly um explain that okay um  let me see if i can okay let me just play this   okay that is where we usually have our spikes are  playing okay if you have been thinking how how do   we avoid spikes and all these then it is by you i  mean it is by knowing your support and resistance   levels okay your support and resistance levels  so once you know this you will be able to avoid   spikes successfully okay you will be able to avoid  spikes successfully for boom okay your resistance   level i mean for boom your support level is very  very important if the price action if boom is   selling and it's selling suddenly once it gets to  out the support region okay it's not until it's   touch a certain point there should be a region  for it once it gets there then you should expect   a sudden spike to happen okay you should in most  cases you should expect a sorting spike to happen   for crash it should be at the resistance region  when the price action is going up like this   once it is approaching the resistance region  then you should expect a sorting um crash down   in the market okay a suddenly crash down in the  market that is the way it works once you are able   to identify these two areas then definitely you  can milk the market successfully and um if you   should notice that for um for spikes trading  or how to avoid spikes okay i'll like i said   it is it's usually happen between the support  and resistance region but um it happens more   when they are in the right train okay that is why  you need to watch some of my videos to understand   how to trade all these assets okay especially  if you want to focus on the spikes trading area   you need to watch my videos on them okay the trend  is very very important in order for you to do this   for boom it is when the market is in uptrend okay  when the market is an uptrend for crash it is when   the market is in downtrend okay so um during these  periods we have more spikes happening around those   regions i mean those i mean we have more spikes  happening in all these assets whenever um they   are in this particular trend okay there are going  to be more spikes happening around the trend i   mean within the period okay within the period  once they are in the right trend okay compared   to when they are in the wrong trend okay when they  are in the wrong trend of course the support that   the the support and resistance level might not be  100 perfect at that particular point because i'll   there will be some breakout in between this region  okay so that is very very important that is very   very important so once you understand this then  you will be able to milk the market successfully   so guys i will be stopping right here i believe  you've learned a lot today i just said i should   bring this to your notice so that um you guys will  understand the market and what is happening within   the markets okay so next time when you see um an  indicator indicating something and all of a sudden   that particular stuff is removed it does  not mean the indicator is not cool or is not   good at what it is doing but it is it might be  because a certain support or resistance level   has been broken okay once it's broken there  is nothing you can do if you turn yourself   i mean if you try to use your own technical  analysis without i mean technical knowledge   in without the indicator definitely does that mean  what you know is no longer working for you again   okay so that is what you are trying to say  with the indicator it is the market forces   that removed it okay this is the market  forces or the forces behind the market   that removed it that is just it so i want you to  watch this video to understand everything that   i have explained in this video and make sure you  practice and perfect your skill first on your demo   account before trying them on your real account  so i'll be stopping right here in case you have   any questions feel free to contact my contact  details are displayed on the screen and i'll be   dropping them in the description box below this  video if you are yet to subscribe to this channel   kindly do so now and turn on the notification  bell to all notification that way you will   always be notified whenever i upload a training  video like this thank you and god bless you

2021-08-31 06:35

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