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These are the user uploaded subtitles that are being translated: 1 00:00:21,370 --> 00:00:22,270 Hello, guys. 2 00:00:22,660 --> 00:00:23,920 You're welcome to this video. 3 00:00:24,790 --> 00:00:30,160 So in a previous video, we learned about the meaning of support and resistance. 4 00:00:30,760 --> 00:00:35,260 In our previous video, we learned about the meaning of support and resistance. 5 00:00:35,740 --> 00:00:36,100 Okay. 6 00:00:36,670 --> 00:00:42,880 We said that support areas prevent price from going lower. 7 00:00:43,660 --> 00:00:51,880 We also said that support areas where falling prices tend to slow down or reverse. 8 00:00:52,390 --> 00:01:00,010 However, sometimes price also breaks support areas and targets the next support area. 9 00:01:01,480 --> 00:01:06,880 We also said the resistant areas prevents fries from going higher. 10 00:01:07,900 --> 00:01:08,290 Okay. 11 00:01:09,880 --> 00:01:16,750 He also said it's a price level where the rising prices don't to slow down or reverse. 12 00:01:17,260 --> 00:01:24,730 However, sometimes price also breaks the resistance level and targets the next resistant area. 13 00:01:25,600 --> 00:01:32,440 But right now in this video, I'll be showing you how to draw support and resistance on your chart. 14 00:01:34,180 --> 00:01:41,020 In this video, I'm going to show you guys how to draw support and resistance on your charts. 15 00:01:42,010 --> 00:01:51,970 I'll begin these on a daily chart because these levels are very strong areas that price always react 16 00:01:51,980 --> 00:01:52,210 to. 17 00:01:52,810 --> 00:01:53,170 Okay. 18 00:01:53,830 --> 00:02:01,660 I love trading the daily charts because you support and resistance areas on a daily charts. 19 00:02:02,110 --> 00:02:08,620 The weekly charts and the monthly charts are very strong support areas. 20 00:02:09,100 --> 00:02:14,320 Those areas do support and resistant areas on these higher timeframes. 21 00:02:15,880 --> 00:02:20,920 We are the banks and commercial institution think that trades form. 22 00:02:21,550 --> 00:02:21,880 Okay. 23 00:02:23,020 --> 00:02:27,760 Now let's jump to the chart right away, guys. 24 00:02:28,120 --> 00:02:28,510 Okay. 25 00:02:31,110 --> 00:02:33,630 So what you are going to look for? 26 00:02:35,040 --> 00:02:40,020 When join a support resistance level forced. 27 00:02:41,140 --> 00:02:44,930 What you are going to do is to drop down to the line chart first. 28 00:02:44,950 --> 00:02:49,660 You can change from the candlestick charts to the line charts. 29 00:02:50,350 --> 00:02:50,740 Okay. 30 00:02:52,160 --> 00:02:57,590 So that you can see everything clearly once you change to the long shots. 31 00:02:58,130 --> 00:03:05,800 The next thing is to start looking for multiple types in a certain zone. 32 00:03:06,410 --> 00:03:06,800 Okay. 33 00:03:07,310 --> 00:03:16,280 Start looking for areas where the prize has touched a particular zone at least two times. 34 00:03:16,520 --> 00:03:16,940 Okay. 35 00:03:17,570 --> 00:03:20,780 You can use these zones to spread on the lower timeframe. 36 00:03:22,550 --> 00:03:26,120 You can also use these zones to set on a higher conference. 37 00:03:26,420 --> 00:03:26,640 Okay. 38 00:03:27,920 --> 00:03:32,780 These zones on the daily high probability zones. 39 00:03:32,810 --> 00:03:34,280 Like I said before. 40 00:03:34,880 --> 00:03:35,240 Okay. 41 00:03:35,690 --> 00:03:48,590 So right now I'm giving you the daily chart and I've ceased my chart from a candlestick to a line chart. 42 00:03:49,610 --> 00:03:57,950 The next thing I'm going to do is to look for areas is to click on my crosshair indicator, on my crosshair 43 00:03:58,730 --> 00:04:00,770 on this MT4 platform. 44 00:04:03,300 --> 00:04:03,780 Okay. 45 00:04:05,330 --> 00:04:10,370 I'll start looking for areas where the price has touched at least two times. 46 00:04:11,360 --> 00:04:11,690 Okay. 47 00:04:12,100 --> 00:04:13,520 So look very well. 48 00:04:13,820 --> 00:04:16,760 That is an area of resistance. 49 00:04:16,790 --> 00:04:19,340 It would find that the price touched here. 50 00:04:21,040 --> 00:04:23,750 The first time and. 51 00:04:24,870 --> 00:04:25,530 Those tears. 52 00:04:25,560 --> 00:04:32,670 The second time in five states is a particular area, a particular zone. 53 00:04:32,790 --> 00:04:33,960 At least two times. 54 00:04:34,440 --> 00:04:39,830 That makes it a valid support resistant area. 55 00:04:40,410 --> 00:04:40,770 Okay. 56 00:04:41,580 --> 00:04:46,080 The next place I'm going, I'm seeing that price has lost its own here. 57 00:04:46,890 --> 00:04:48,630 Had a price two times. 58 00:04:49,840 --> 00:04:50,260 Okay. 59 00:04:51,940 --> 00:04:52,960 Prices started here. 60 00:04:55,840 --> 00:04:56,590 The first time. 61 00:04:58,380 --> 00:05:00,570 And he touched here the second time. 62 00:05:01,560 --> 00:05:01,860 Okay. 63 00:05:02,220 --> 00:05:05,250 So why are you drawing a line on this chart? 64 00:05:05,280 --> 00:05:10,650 The next thing you are going to do is to change it back to Candlestick so that you can adjust. 65 00:05:11,620 --> 00:05:13,840 Adjust this levels properly. 66 00:05:14,200 --> 00:05:14,470 Okay. 67 00:05:14,480 --> 00:05:15,430 You can adjust it. 68 00:05:16,240 --> 00:05:16,630 Okay. 69 00:05:16,780 --> 00:05:17,950 Let me adjust this one. 70 00:05:20,280 --> 00:05:22,130 She can look very well in front of us. 71 00:05:22,760 --> 00:05:24,740 Price reacted to the results. 72 00:05:25,820 --> 00:05:27,470 Price reacted to the business. 73 00:05:27,590 --> 00:05:28,520 Highlights Price. 74 00:05:28,550 --> 00:05:29,510 Go to this place. 75 00:05:29,510 --> 00:05:33,860 Once price go to this or this area, you can went back down. 76 00:05:34,280 --> 00:05:34,700 Okay. 77 00:05:35,000 --> 00:05:36,380 Remember what I said? 78 00:05:36,380 --> 00:05:45,680 I said that the discount areas prevent price from going up and the support areas prevent price from 79 00:05:45,680 --> 00:05:46,310 going down. 80 00:05:46,940 --> 00:05:51,560 See, once price go to this zone, it couldn't go higher again. 81 00:05:52,070 --> 00:05:54,020 Okay, this allows the control. 82 00:05:54,050 --> 00:05:55,790 That is why the price went down. 83 00:05:56,120 --> 00:05:58,370 I was surprised to go to this support area. 84 00:05:58,370 --> 00:06:01,190 Here was price go to this support area. 85 00:06:01,730 --> 00:06:06,440 It couldn't go lower because the buyers have taken control of this area. 86 00:06:06,530 --> 00:06:09,440 They buy us out added support area to buy. 87 00:06:09,800 --> 00:06:14,570 So once price goes to this support area, you buy us to get it. 88 00:06:15,050 --> 00:06:17,570 That is why the market is going up. 89 00:06:17,930 --> 00:06:23,240 Okay, so let's continue our chart then our support and resistance. 90 00:06:23,810 --> 00:06:30,140 So the next thing you are going to do is to change back to latex, change back to Blanchard. 91 00:06:31,780 --> 00:06:32,200 Okay. 92 00:06:32,380 --> 00:06:34,150 I've seen that place. 93 00:06:34,150 --> 00:06:39,910 The prize has cost at least two times the cost of first time. 94 00:06:41,590 --> 00:06:42,120 Reacted. 95 00:06:42,130 --> 00:06:43,000 He has less time. 96 00:06:44,820 --> 00:06:47,250 The second time the market saw was here. 97 00:06:48,310 --> 00:06:49,270 And a second time. 98 00:06:49,270 --> 00:06:52,390 So since has posted two times, at least two times. 99 00:06:52,720 --> 00:06:55,030 That makes it a valid support area. 100 00:06:55,390 --> 00:07:00,550 So I changed back to my candlestick charts so as to adjust the line properly. 101 00:07:00,910 --> 00:07:01,270 Okay. 102 00:07:02,020 --> 00:07:06,160 After adjusting, I'll still go back to. 103 00:07:07,270 --> 00:07:13,930 My line starts to look for areas where I can place my support and resistant line. 104 00:07:14,310 --> 00:07:16,880 Okay, so let me change the line chart again. 105 00:07:16,900 --> 00:07:20,800 I've seen another area assigned to the price last. 106 00:07:21,990 --> 00:07:25,050 More at least three times higher costs have forced. 107 00:07:26,930 --> 00:07:28,910 And the second thought was somewhere here. 108 00:07:30,710 --> 00:07:31,040 And. 109 00:07:32,980 --> 00:07:35,030 Thought storage was over here. 110 00:07:35,710 --> 00:07:38,800 Okay, so next thing I'm going to do. 111 00:07:39,650 --> 00:07:43,300 Change back to Candlestick to adjust these areas. 112 00:07:44,540 --> 00:07:46,310 Chain back to candlestick charts. 113 00:07:46,540 --> 00:07:48,470 So I know this is okay. 114 00:07:51,000 --> 00:07:51,300 Okay. 115 00:07:51,390 --> 00:07:55,630 So next thing I'm going to do, I'm still going to add. 116 00:07:55,630 --> 00:07:57,660 So let me add one more support area below. 117 00:07:59,130 --> 00:08:02,790 Finally, the prize goes to Moran at least four times here. 118 00:08:04,580 --> 00:08:04,860 Okay. 119 00:08:05,330 --> 00:08:10,790 The prize has to torch at least two times to make it a value support and adjustment area. 120 00:08:11,470 --> 00:08:11,690 Okay. 121 00:08:12,050 --> 00:08:13,110 Those are the first one. 122 00:08:13,190 --> 00:08:15,170 The second 1/2 thoughts was there. 123 00:08:15,990 --> 00:08:16,250 Okay. 124 00:08:16,640 --> 00:08:19,010 Using the fourth, the top touch. 125 00:08:19,010 --> 00:08:19,370 Sorry. 126 00:08:21,430 --> 00:08:24,280 You thought such and. 127 00:08:26,240 --> 00:08:27,410 This one here. 128 00:08:28,960 --> 00:08:30,640 He's the Fort Dodge. 129 00:08:30,940 --> 00:08:35,830 So let's change the candlestick charts even even past the fifth time here. 130 00:08:36,400 --> 00:08:36,670 Okay. 131 00:08:36,670 --> 00:08:38,290 Even 35th time somewhere here. 132 00:08:39,160 --> 00:08:39,490 Okay. 133 00:08:40,450 --> 00:08:43,270 You see the price touched here five times. 134 00:08:43,510 --> 00:08:46,150 That makes it a very strong support area. 135 00:08:47,700 --> 00:08:50,250 That makes it a very strong support area. 136 00:08:50,730 --> 00:08:50,980 Okay. 137 00:08:52,440 --> 00:08:56,010 The support lines are the lines lower. 138 00:08:56,010 --> 00:08:59,850 The lower lines and the support lines where the wider lines above. 139 00:08:59,850 --> 00:09:00,960 I don't understand the lines. 140 00:09:01,580 --> 00:09:01,860 Okay. 141 00:09:02,850 --> 00:09:08,220 Now, if you look at this level, you find that price is reacting. 142 00:09:09,480 --> 00:09:10,430 So this lolz. 143 00:09:11,310 --> 00:09:11,670 Okay. 144 00:09:12,060 --> 00:09:14,130 You find out price is reacting to this levels. 145 00:09:14,880 --> 00:09:17,850 Once fries get to this level they tend to reverse. 146 00:09:18,890 --> 00:09:31,760 For example prize goes to this support area was fries go to the support area went up it went up got 147 00:09:31,760 --> 00:09:33,290 a resistant area somewhere here. 148 00:09:34,450 --> 00:09:35,440 And it went down. 149 00:09:35,950 --> 00:09:36,250 Okay. 150 00:09:39,910 --> 00:09:46,060 He also went down to this support area and he went, okay. 151 00:09:46,160 --> 00:09:46,590 Find out. 152 00:09:46,610 --> 00:09:47,980 Price are reacting. 153 00:09:48,310 --> 00:09:54,190 Whenever price gets to the zone, the reverse price got here and it was to the downside. 154 00:09:55,760 --> 00:09:56,150 Price. 155 00:09:56,150 --> 00:09:59,750 Got to displace an investor offside. 156 00:10:01,220 --> 00:10:02,540 Fries goods to. 157 00:10:03,790 --> 00:10:07,000 Here I was to the downside, you know. 158 00:10:07,690 --> 00:10:13,510 So once fries get to these areas of support and resistance, you're expecting two things to happen. 159 00:10:14,440 --> 00:10:23,620 We are expecting either the price to revise, which is what we want all the prices to break above these 160 00:10:23,620 --> 00:10:24,070 areas. 161 00:10:25,150 --> 00:10:32,680 So once price breaks above this area is what we are going to do is to wait for every test of those areas. 162 00:10:32,920 --> 00:10:35,080 We are now going to enter the trade immediately. 163 00:10:35,500 --> 00:10:42,640 You allow the price to break, but those areas close above the area, close back to the previously broken 164 00:10:42,640 --> 00:10:47,020 area to test before you enter trade in direction of the trend. 165 00:10:47,740 --> 00:10:48,070 Okay. 166 00:10:49,210 --> 00:10:55,390 But if fries, if the level holds, will enter our trade for a reversal. 167 00:10:55,900 --> 00:10:56,290 Okay. 168 00:10:57,490 --> 00:10:58,330 So that is it. 169 00:10:58,690 --> 00:11:04,540 So let's go to another side so I can also show you how to draw support and resistance on this chart. 170 00:11:08,470 --> 00:11:14,970 Okay, we are on Nzd JPY then the charts that nzd JPY daily charts. 171 00:11:16,610 --> 00:11:16,940 Okay. 172 00:11:17,390 --> 00:11:20,390 So the first thing we are going to do is change the candlestick chart. 173 00:11:21,200 --> 00:11:21,620 Okay. 174 00:11:22,820 --> 00:11:24,350 You can use your crosshair. 175 00:11:26,940 --> 00:11:28,890 Across her two empty four. 176 00:11:30,090 --> 00:11:33,340 You can use a cross to empty for. 177 00:11:33,780 --> 00:11:34,830 Let me change your mind. 178 00:11:35,880 --> 00:11:36,420 To block. 179 00:11:36,420 --> 00:11:36,690 Okay. 180 00:11:36,990 --> 00:11:39,690 Can use your crosshair to an empty four. 181 00:11:40,110 --> 00:11:41,040 Try to move it. 182 00:11:42,340 --> 00:11:49,450 Across the charts whenever and any way you see the price touch two times, at least two times. 183 00:11:50,170 --> 00:11:53,740 That's where you place your exist, support and understand areas. 184 00:11:54,220 --> 00:11:55,790 Firstly, the price starts here. 185 00:11:55,810 --> 00:11:57,450 I've seen one price touch there. 186 00:11:57,460 --> 00:12:01,000 Firstly, the second time the price starts here. 187 00:12:01,670 --> 00:12:01,940 Okay. 188 00:12:03,480 --> 00:12:06,300 That makes these a valid. 189 00:12:07,560 --> 00:12:08,610 Resistant area. 190 00:12:09,030 --> 00:12:10,710 Let's change the candlestick shots. 191 00:12:11,930 --> 00:12:16,370 So let's change a candlestick so we can adjust the line to fit in properly. 192 00:12:16,880 --> 00:12:17,210 Okay. 193 00:12:19,910 --> 00:12:25,720 Less adjusted products on this land is resistant, letting you find out that the price even posted more 194 00:12:25,730 --> 00:12:26,470 onto the tank. 195 00:12:26,990 --> 00:12:29,900 It's the first time those charges have on time. 196 00:12:30,710 --> 00:12:32,720 Came here and pushed the dog time. 197 00:12:33,950 --> 00:12:34,440 Kim here. 198 00:12:34,440 --> 00:12:37,790 I thought the fourth time also came on us for the fifth time. 199 00:12:37,850 --> 00:12:41,240 So this is a strong resistant area. 200 00:12:41,660 --> 00:12:45,330 Okay, so guys, let's place another line on the charts. 201 00:12:47,140 --> 00:12:48,550 This place on the land charts. 202 00:12:49,870 --> 00:12:51,790 Click on our crosshair indicator. 203 00:12:52,000 --> 00:12:55,150 Try to move it across the charts while we are moving it. 204 00:12:55,620 --> 00:12:58,930 We're looking for a way of price, but at least two times. 205 00:12:59,600 --> 00:12:59,880 Okay. 206 00:13:00,050 --> 00:13:00,430 Price. 207 00:13:00,430 --> 00:13:01,630 Torture the first time. 208 00:13:02,600 --> 00:13:05,150 Flash torches are gone, Lee told me. 209 00:13:05,300 --> 00:13:07,400 Look, this place is invalid. 210 00:13:07,580 --> 00:13:08,420 So what area? 211 00:13:08,690 --> 00:13:12,110 So we are going to click on online and place it under Zoom. 212 00:13:12,560 --> 00:13:17,630 So once it will click, once we place on the zone, the next channel going to do is to change the candlestick 213 00:13:17,630 --> 00:13:17,930 chart. 214 00:13:18,560 --> 00:13:20,660 Okay, I've changed the candlestick type, guys. 215 00:13:21,230 --> 00:13:23,360 So the next thing is to adjust it properly. 216 00:13:25,950 --> 00:13:26,170 Okay. 217 00:13:26,940 --> 00:13:29,100 Kind of that's torture. 218 00:13:29,130 --> 00:13:33,690 Firstly, I went up, came here on 22nd time and went up. 219 00:13:34,850 --> 00:13:37,750 He also came to this place and touched it all the time. 220 00:13:37,760 --> 00:13:38,390 I went up. 221 00:13:39,110 --> 00:13:43,730 So, guys, you don't have to trade this support and resistant areas as just a line. 222 00:13:44,840 --> 00:13:47,990 You don't have to trade support and resistance areas and just a line. 223 00:13:48,200 --> 00:13:50,120 You have to treat them as zones. 224 00:13:50,690 --> 00:13:51,080 Okay. 225 00:13:51,650 --> 00:13:53,210 You have to treat them as zones. 226 00:13:53,210 --> 00:14:00,860 Because sometimes when prices get to these areas, they tend to look as Seif price is back in those 227 00:14:00,860 --> 00:14:01,250 areas. 228 00:14:02,300 --> 00:14:03,930 Okay, let's fight this stuff. 229 00:14:04,020 --> 00:14:11,630 This is the difficult because what we call figure outs on the forex shots, it looks as if price is 230 00:14:11,640 --> 00:14:12,860 going to break those areas. 231 00:14:13,340 --> 00:14:17,570 But after some hours, the price reverses back. 232 00:14:18,410 --> 00:14:18,830 Okay. 233 00:14:19,340 --> 00:14:25,190 So in our favor, so what we are going to do to avoid those areas is to treat displays as zones. 234 00:14:26,180 --> 00:14:27,670 Consider them as zones. 235 00:14:27,680 --> 00:14:27,950 Okay. 236 00:14:27,950 --> 00:14:31,670 They are not just support on distant areas and not land on the chart. 237 00:14:32,300 --> 00:14:33,650 They are zones. 238 00:14:33,890 --> 00:14:34,280 Okay. 239 00:14:35,300 --> 00:14:40,880 So price when prices get to those zones, price is that aspect. 240 00:14:40,880 --> 00:14:44,540 That's the red zones, all three of us. 241 00:14:45,060 --> 00:14:49,250 Okay, so let's add one more area on the chart. 242 00:14:50,300 --> 00:15:00,470 As I go out, we change to our lunch jobs, go to our crosshair to run across the shots, look for their 243 00:15:00,470 --> 00:15:07,760 price bonuses at least two times where price pushed at least two times posted the first time. 244 00:15:07,760 --> 00:15:11,990 Let's try the second time and maybe here the third time. 245 00:15:12,140 --> 00:15:12,410 Okay. 246 00:15:13,100 --> 00:15:17,210 As far as it has touched two times, that makes it a valid area. 247 00:15:17,780 --> 00:15:18,100 Okay. 248 00:15:18,170 --> 00:15:20,210 So we place our line on that area. 249 00:15:21,110 --> 00:15:28,220 Click on the candlestick chart to change the Kondo stick, then adjust our line to fit in that area 250 00:15:28,520 --> 00:15:29,060 properly. 251 00:15:29,450 --> 00:15:29,750 Okay. 252 00:15:30,800 --> 00:15:37,640 Find out the price here and what on more than two times price to show the first time once down. 253 00:15:39,860 --> 00:15:40,510 Rise start. 254 00:15:40,520 --> 00:15:42,710 Share this up on time once all. 255 00:15:44,030 --> 00:15:44,480 Okay. 256 00:15:45,530 --> 00:15:46,610 Christ touch her. 257 00:15:47,740 --> 00:15:50,050 The third time I moved out of. 258 00:15:51,590 --> 00:15:53,110 Was priceless. 259 00:15:54,050 --> 00:15:54,830 The first time. 260 00:15:54,830 --> 00:15:56,660 Sorry I reacted. 261 00:15:56,660 --> 00:15:59,990 And most of it came to this area. 262 00:16:00,230 --> 00:16:01,580 The first time I know some. 263 00:16:02,090 --> 00:16:08,750 Okay, so this support and resistance is like self-fulfilling prophecy. 264 00:16:09,200 --> 00:16:09,590 Okay. 265 00:16:10,280 --> 00:16:10,540 Yeah. 266 00:16:10,560 --> 00:16:11,780 Self-fulfilling prophecy. 267 00:16:11,840 --> 00:16:12,470 Prophecies. 268 00:16:12,860 --> 00:16:17,340 So when they get to those areas, they always reverse. 269 00:16:18,020 --> 00:16:20,330 He said that the reverse all. 270 00:16:22,530 --> 00:16:23,220 The break. 271 00:16:23,640 --> 00:16:27,720 Okay, so that is it. 272 00:16:27,720 --> 00:16:30,390 On how to draw support and assistance on your chart. 273 00:16:31,590 --> 00:16:39,990 Remember, we are going to do first is to change to a line chart, change your line charts, look for 274 00:16:39,990 --> 00:16:42,750 areas where price has touched at least two times. 275 00:16:43,590 --> 00:16:47,970 If Price has told us that a at least two times, that makes it invalid. 276 00:16:50,340 --> 00:16:52,110 Support an adjustment area. 277 00:16:52,770 --> 00:16:53,190 Okay. 278 00:16:53,820 --> 00:16:57,630 You change back to your candlestick chart to adjust the area properly. 279 00:16:59,010 --> 00:16:59,390 Okay. 280 00:16:59,940 --> 00:17:02,460 Before taking your treads from those areas. 281 00:17:02,880 --> 00:17:03,210 Okay. 282 00:17:04,380 --> 00:17:08,970 So, guys, that does it for how to draw support areas. 283 00:17:09,240 --> 00:17:16,980 If you don't understand this video, I recommend you watch this video at least four times to five times. 284 00:17:17,220 --> 00:17:18,380 So kind of thinking. 285 00:17:18,390 --> 00:17:24,750 Okay, watch it as many times as possible so you can understand the concept of drawing support and resistance 286 00:17:24,750 --> 00:17:25,620 areas on your chart. 287 00:17:26,100 --> 00:17:26,400 Okay. 288 00:17:27,000 --> 00:17:35,190 So in our next video, we'll be talking about the breadth of support and is what happens when price 289 00:17:35,190 --> 00:17:37,530 breaks new support and resistant areas. 290 00:17:38,070 --> 00:17:38,400 Okay. 291 00:17:38,430 --> 00:17:41,820 What do we do when price breaks to support an incident areas? 292 00:17:42,120 --> 00:17:45,510 Okay, so, guys, I will see you in as we do. 293 00:17:47,130 --> 00:17:48,720 You guys should take care of themselves. 294 00:17:48,790 --> 00:17:49,120 Okay. 295 00:17:49,930 --> 00:17:50,280 But. 23174

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