In today’s episode we will have a look at something that is very, very basic when it comes to day trading and price action.
We will examine Support and Resistance. Today we are going to look at horizontal support and resistance. There is likewise diagonal support and resistance, and when I say diagonal I mean the nature of the market when it is trending. We will have support and resistance in trends as well. In the candlestick chart an uptrend would be diagonal from the bottom left corner, to the top right corner. But we will take a look at that in the next video.
Volume is something very significant when trading price action. We will cover volume in future episodes. In the next video in this Youtube series we will take a look at support and resistance in trends. That’s something that we call diagonal support and resistance.
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