How To Find Support And Resistance To Know Where To Buy And Sell For Beginners | Stock Market
Hey, guys what's going on my name is James Mason in this video I'm going to show you the best way to find, your supports and resistances. For. A ticker and. This, video would be good for the beginning trader or or, a trader who just needs a little bit more help, or explanation, on how to find the, proper supports, and resistance is, because, if you can't find those you. Will constantly. Lose. Money not. Knowing. Where. Can potentially bounce or get, rejected so. The. First thing that we are going to do is. You. Know we we have we, just have twitter up right now so, the. First thing that we need to do is, go. Out to your longest time frame I prefer. The one year one day chart. And. The. Reason why I say one year one day chart is. You. Know anything, shorter. Than this time frame. Doesn't. Paint a picture long, enough to. Truly, see. You. Know where this is you know bouncing. That and anything. Kind of longer than that it's gonna kind of skew. You. Know your results a little bit with with. Old price ranges that really. Are. Almost irrelevant so. Here. We are one, year one day chart and, next. You're gonna just, remove. All of your studies. So. This is what it will look like at this point, if. Your candlesticks, look, different than this, I. Actually. Even. Have two unchanged them because I think the default is like a black empty. Box or something like that I. Actually. Have a free eight hour course it's up, in my playlist section its playlist number one I teach in two different styles so playlist number one is teaching. It with EMA, Long's and playlist, number two is teaching, it with Bollinger Bands so it just comes down to preference for you it's all the same information same, content, and. There's two playlists. So. Here. We are the one year one day chart and. You. Need to come down here to your drawing, tool and. Click. On this one right here the price level. So. The first thing you do is come, over here to the far left and, you. Will. Put. A line right here at. That. It's low I. Can. Get. Right on it let's, see come on oh. I'm. Just gonna put it right there three. Cents higher but. It'll. Still work just, because, it's within, a couple pennies, and. The next thing you you do is come, up here - it's hot for the year. All. Right so. At this point, you. Got it you got squared, away right here. The. Next thing you do is. You. Just your. Little crosshairs. Right here just. Start over here and you'll. Just start working your way up and the. Best way to. Find. Your support and resistance is. You. Know for it be a confirmed, support, or resistance is. The. The daily candlesticks, need. To at least, bounce. Off it twice so, you need two candlesticks that. You. Know bounce, off that area and. That's. Confirmation, right there so and we'll. Break this down once we, chart. This out right here, we'll, go into the. Five-minute chart so you can actually see and I'll go back you. Know a few days you can actually see how this said you know bounce back and forth off of, these, levels so, you take your crosshairs, and you start working your, way up so, we, get right here. We. Can put a lon because, you have all of these that that, just kind of bottomed out right there and. Next. You'll. Come up, right. Here and. You'll. Put another line because. These, come up here and they you, know they're stopping right here and. Right, here and. You. Know you have some right here. So. After. That. You. Start working your way up and. See. About. Right, in here. Maybe. A little bit lower. I'll. Just go right there. Because. You, have these where. They're Haza today and this one right, here where opened up at. The beginning of the day. You. Know it met that resistance. Right there and, if you come over right here you. Have the same thing where, this, day it was a you. Know a red day a very big red day and, it came down here and stopped. So. We'll. Continue on up and see. Right. Here's another one. Because. You have it right in here and. You. Come over and you have it right there. Come. Up again. You. Also have it a, little. Bit higher about, writing. Yeah. But right here you have. It right, here, and. Right. Over in here. Come. Up a little bit more. You. Have it altar, right here and. Then. It comes over it's, right, here as well and, then, couple. Right here. So. Right, here you have these candlesticks, that are coming down, and. As you go over. You. Have some of these where, they're. Coming down there bouncing off of it and. You'll come over here and. You can see they're bouncing off of it and these. Underneath are. Getting rejected, right here it, comes over and same. Right here. Right. There's also another one, coming. Through right there right. Here. Right. Here. Almost. Right there but. Not. 100%. Yet. Get. These. And. Right here. And. That's. It. That. One then click. Okay. So, right here. You. Can see. See. Probably, need to drop this one down, just a little bit. Okay. So right, here. Right, here. That, kind of went, through it maybe I, wouldn't. Necessary classify, this one because it did go past it and, it kind of more so stuff right down here for the hot and.
Come. Over here you got a couple right here. Definitely. Right here. And. You. Got a couple right here and, so, on. Come. On, there. We go. So. The same right there. And. Right here you, know you can see it coming through right here and. They're, bouncing. We're. Bouncing right there. Getting. Rejected right, in through here. Some. Rejection right in through here. Bouncing. Up here some. Rejection, rejection. So. You just see, it right there. Can. You come through you, know you can see right here and right here. So right, in here. You. Come through here as well and it's the same thing right. Here and. Right, here. And. You can see it right here. And. Right here. Got. Some right here they're getting rejected. Got. A couple right here. Right. Over here. This. Is one right here you, know you can see this, red candlestick it, it starts right here on the day and obviously, goes down to this next one so. Then you come over right here and. You get these and. Kind. Of rinse through those right there this. One not mean you have to end a kind of stops, upward but you, know whatever over here you for sure get confirmation. So. Right. Here you can see where the, day kind of started for a right for this candlestick and it. Blew past this. Support. And. Then tanked over, here it, tried to go back up and it, completely got rejected. Right. Here. Right, here. You. Can see this. Part. Of the body of the candlestick it stops right here and. This. Wick on this candlestick it comes down and, you. Know it starts, bouncing right there and, you. See all this rain, for here. So. Come up a little bit more. Get, it right here and. You can see where they're just bouncing. Off of these lawns. Right. There. There. And. There so. You. Know when you're looking at this this can be pretty. Hard. To to, see, you. Know to see all that detail. Of, the candlesticks and everything, and. If, you're, not completely sure you, know you could you can just make. This long and then, follow that line down to see if it's actually bouncing off of that and if, not you'll. Just simply right-click, it and this box will come up and, remove. Drawling and that, will move that line for you so. Once. We get to this point. I'm. Gonna change this back to my normal treadline, and. Now. We, will add our indicators, back, so. My. Indicators. Already. Have everything set, up the way that I like it and, this. Is what it looks like on the one-year one-day chart and. So. We're gonna we're gonna start right here we're, looking at this as the, big picture. So. Currently. For. Twitter this is today's. Candlestick. Massive. Red day and. One. The markets are bad too, they. If. You know anything about Schwartz Allen and certain. Groups. If. You, read the news down here it will explain, it for you but. So. The first thing we're gonna do is we'll. Look in on the daily chart and. If. You look.
Right Here you can you can see where these candlesticks came, down, and. They were bouncing or getting rejected, now. When when. I swing trade. Or. If it's potential debt my day, trade could, fall, into a. Swing. Trade. What. Always doing is I looked at the daily chart first, I need. To see how. This stock is moving, because. You. Never want to trade. Against. The. Market so, you don't want to trade against the momentum, here so. You can see right here it goes up comes, down goes. Up a lot and it comes down on a lot a little. Spike comes. Down up. A little bit, kind. Of trading sideways right here, and. This. Is kind of a appearan to be. Setting. Up to go down now you you, never know 100%. Sure. This. Is also why these, these. You. Know supports, and resistance is, come into play because. Now we, are gonna go in and. Change. It to the 10, day, 5-minute, chart. So. Here. We are we're. Looking at. 10. Complete days but. In 5-minute increments so each candlestick, is represents. A 5-minute period. And. If you look at this you. Can see. Where. All. Of these, were. Bouncing you, know back and forth between all, of these supports, and resistances, and. Then. You know you get up here and you. Know it does. This thing it comes back down and. We'll. Zoom in, closer. So. Looking, back to past 2 days. We'll. Start right here and. At. The opening at the bell, here's. Your first candlestick, it, comes up, let. Me zoom in a little bit more. So. It comes up, it's. Catching a little resistance, right here. The. Next candlestick, it. Opens up you. Know just a little bit below that and it breaks through. Now. Just. Because it breaks through that. You, know resistance, that, doesn't mean it's going to keep going up in that direction you need to see, how. The following, candlestick, plays out and. Because. This this, can go up and shoot. Right back down. So. This. Next candlestick. You. Know it, does this thing right here and it, comes up and you can, if. You look at this candlestick right here this long wig this, right here this is saying that there's a lot of people coming. In and they're selling, at this point so. This is where all the Bears are they're. Selling, their, shorten they're. Trying to push this thing down or they're just taking, profits, now. These, next two candlesticks, come up and. This. Is where it pretty much stops at and if you look back right here this is almost, the same area you know this if you go up just a little bit more you know you're only talking about a, couple cents, more really.
No. Big deal unless. If you just have a ton of shares or ton of. You. Know contracts. So. But. Overall you know looking at the chart. It. Goes up pass it just, a few cents you, know no big deal really and. Then. It comes back down is. You know doing this little wave right here and this, is what I like to look at the volunter band chart because, you have this middle line you can kind of see where you, know it, wanted to start rottenness and then it it just it broke through it and then. It bounced off of this lower band so. You. Know. It's it's doing this thing and keep them on just so the new people you're not getting these lines, confused. Right now these. Are just my indicators, for Bollinger Bands my, lines for volunteer bands these, are my this. Is my support I mean my bad this is my resistance and this, is my support line right here, so. My. Support. Line is at thirty four dollars and four cents. And. My resistance is at. $34. 81, cents so. As this approaches. That. Resistance, it. Just can't quite make it above. You. Know where it, had already made its highs over here at and start getting rejected because it's getting closer and as this, gets closer to these resistance, loans. It. Starts getting a lot of pressure on it until it can break through and, confirm. That it's going to be. Above. That line and once. It's above that lawn this. You. Know resistance, you know that's it's coming up this is its resistance but, as it gets over that that now becomes its support. So. You. Come over here and you can see it come down and, it. Breaks, its support right here. And. It comes down and you know it's getting a little help down here it's kind of leveling. Off in the same area, at 3.30. Three dollars eighty eight cents and. It comes back up. You. Know it well. Before it comes back up you can see where, it's leveling off right here at $33 eighty eight cents, you. Can see where it's now struggling. To. Get past that. Resistance, you know it's. Pinging off of these, lawns, and. As it breaks past that. You. Know it's, lost its momentum and then it drops. So. As we. Look. A little further it drops and, this candlestick right here it, was a mass sell off yesterday. With. You, know. Some. Economy, stuff and, things like that but, that, doesn't matter so, well. Doesn't matter looking back and, talking, about this right now so, this. Broke through it drop came, down here winter. Dis candlestick, I mean. When went through this support. And now. You can see that support turns into that resistance and here.
We Are for a couple candlesticks is struggling, it. Makes it passage again it goes up and it. Gets stopped out right here and then. Back. Down here. And. It just dies off so. The. Next day which is today. Here. We are the market opens, first. Candlestick. Here. We are it. It. Starts right there at that resistance. And, it goes down next, candlestick, blows. Past, two. Loans. Then. It. Kind of you know is struggling right here and. Kind of has little support right here and. Then it finally breaks past and it comes down. You. Know it's one that come up right here but it can't then, it goes back under and struggles, and. Here. We are and that's. That's. How it ends up so, you can clearly see if you look back. Once. You find your support and resistance, on that one year one-day chart where. These. Candlesticks, especially. On the five-minute chart and that's that's where I trade. Out is on the five-minute chart so. If. You're looking at, you. Know these, supports and resistance is, if you targeted, it out from the 1-year one day chart you. Will see where, these, candlesticks. You. Know that they bounce off of these lines because. They. Are true and that's. How. You will know. When. You. Get. The best possible entry, now. You. Do always have certain, things that can, come into play you know the, economy, just bad news, with the company anything. Really, but. Overall. This. Is the best, way to make. Your best. Entry. And your best exit so. Find. Out your. Supports and resistances. See. What. You. Know see where it bounces and where, it gets rejected and, you'll know where, to get in at and I want to show you Apple, let me show you yesterday with Apple. So. Apple took ticker a a PL. Here. It is today and, you can see where it you. Know it broke through, this was a support. Up here and became. A resistance, and it just just, died off the whole day, let. Me go back to yesterday's. Here. We are. It. Opens up it takes a little dip but then it comes up and it breaks through that, resistance, and then. It comes down, and. Even. Though it kind of breaks it it's kind, of rotting, it a little bit and then it finally comes, down just a little bit under. What. Was once a support which now becomes a resistance, I think goes back above, it and. Now. It's bouncing off this support a little bit and. It comes back up here and if. You notice this I mean. I made and. Now it's to him in trade yesterday on. This, if. You look, back, you. Can see right here if, you put your crosshairs over it I'm. Just gonna put a little on right there. Hold. On a second, let me change it. All. Right so, I just drew another trend line right here and this is just, basically a intraday. Support. Resistance right. Now it's actually a resistance, so. It. Gets rejected right, up here and, it comes down and then, the second time and. You, remember what I said it, takes two times and that's confirmation, so. That's. At the same area and. Then technically, it comes up here in it does it a third time it. Has for sure confirmation. And then. It. Does. So. You can just see what. It had done so. This. Is why it's so important. To, understand. How, to, find the proper supports. And resistances, and. Like. I said the, one dear the, one year one days chart, is. The best time frame to start from and work, your way in so. I hope. You guys can. You. Know take some away from this I hope this helps, you out with finding, your supports and resistances. And. You. Know check out some my other videos I post, some of my trades that, I do I, like. Already said have that eight hour course, working. On a miniseries, for how I trade options and. Hopefully. I can get that up soon so. You. Know if you haven't yet please subscribe please, click. That little bell that's the notification, button and that. Way you can get notified. Whenever. I post the video and, I. Appreciate. You taking your time to watch this and, I. Will see you in the next one.