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Hello, guys.
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You're welcome to this video.
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So in a previous video, we learned about the meaning of support and resistance.
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In our previous video, we learned about the meaning of support and resistance.
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Okay.
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We said that support areas prevent price from going lower.
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We also said that support areas where falling prices tend to slow down or reverse.
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However, sometimes price also breaks support areas and targets the next support area.
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We also said the resistant areas prevents fries from going higher.
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Okay.
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He also said it's a price level where the rising prices don't to slow down or reverse.
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However, sometimes price also breaks the resistance level and targets the next resistant area.
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But right now in this video, I'll be showing you how to draw support and resistance on your chart.
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In this video, I'm going to show you guys how to draw support and resistance on your charts.
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I'll begin these on a daily chart because these levels are very strong areas that price always react
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to.
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Okay.
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I love trading the daily charts because you support and resistance areas on a daily charts.
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The weekly charts and the monthly charts are very strong support areas.
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Those areas do support and resistant areas on these higher timeframes.
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We are the banks and commercial institution think that trades form.
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Okay.
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Now let's jump to the chart right away, guys.
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Okay.
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So what you are going to look for?
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When join a support resistance level forced.
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What you are going to do is to drop down to the line chart first.
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You can change from the candlestick charts to the line charts.
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Okay.
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So that you can see everything clearly once you change to the long shots.
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The next thing is to start looking for multiple types in a certain zone.
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Okay.
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Start looking for areas where the prize has touched a particular zone at least two times.
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Okay.
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You can use these zones to spread on the lower timeframe.
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You can also use these zones to set on a higher conference.
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Okay.
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These zones on the daily high probability zones.
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Like I said before.
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Okay.
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So right now I'm giving you the daily chart and I've ceased my chart from a candlestick to a line chart.
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The next thing I'm going to do is to look for areas is to click on my crosshair indicator, on my crosshair
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on this MT4 platform.
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Okay.
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I'll start looking for areas where the price has touched at least two times.
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Okay.
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So look very well.
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That is an area of resistance.
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It would find that the price touched here.
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The first time and.
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Those tears.
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The second time in five states is a particular area, a particular zone.
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At least two times.
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That makes it a valid support resistant area.
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Okay.
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The next place I'm going, I'm seeing that price has lost its own here.
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Had a price two times.
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Okay.
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Prices started here.
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The first time.
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And he touched here the second time.
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Okay.
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So why are you drawing a line on this chart?
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The next thing you are going to do is to change it back to Candlestick so that you can adjust.
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Adjust this levels properly.
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Okay.
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You can adjust it.
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Okay.
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Let me adjust this one.
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She can look very well in front of us.
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Price reacted to the results.
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Price reacted to the business.
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Highlights Price.
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Go to this place.
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Once price go to this or this area, you can went back down.
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Okay.
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Remember what I said?
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I said that the discount areas prevent price from going up and the support areas prevent price from
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going down.
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See, once price go to this zone, it couldn't go higher again.
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Okay, this allows the control.
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That is why the price went down.
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I was surprised to go to this support area.
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Here was price go to this support area.
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It couldn't go lower because the buyers have taken control of this area.
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They buy us out added support area to buy.
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So once price goes to this support area, you buy us to get it.
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That is why the market is going up.
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Okay, so let's continue our chart then our support and resistance.
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So the next thing you are going to do is to change back to latex, change back to Blanchard.
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Okay.
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I've seen that place.
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The prize has cost at least two times the cost of first time.
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Reacted.
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He has less time.
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The second time the market saw was here.
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And a second time.
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So since has posted two times, at least two times.
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That makes it a valid support area.
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So I changed back to my candlestick charts so as to adjust the line properly.
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Okay.
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After adjusting, I'll still go back to.
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My line starts to look for areas where I can place my support and resistant line.
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Okay, so let me change the line chart again.
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I've seen another area assigned to the price last.
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More at least three times higher costs have forced.
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And the second thought was somewhere here.
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And.
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Thought storage was over here.
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Okay, so next thing I'm going to do.
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Change back to Candlestick to adjust these areas.
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Chain back to candlestick charts.
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So I know this is okay.
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Okay.
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So next thing I'm going to do, I'm still going to add.
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So let me add one more support area below.
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Finally, the prize goes to Moran at least four times here.
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Okay.
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The prize has to torch at least two times to make it a value support and adjustment area.
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Okay.
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Those are the first one.
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The second 1/2 thoughts was there.
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Okay.
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Using the fourth, the top touch.
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Sorry.
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You thought such and.
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This one here.
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He's the Fort Dodge.
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So let's change the candlestick charts even even past the fifth time here.
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Okay.
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Even 35th time somewhere here.
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Okay.
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You see the price touched here five times.
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That makes it a very strong support area.
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That makes it a very strong support area.
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Okay.
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The support lines are the lines lower.
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The lower lines and the support lines where the wider lines above.
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I don't understand the lines.
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Okay.
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Now, if you look at this level, you find that price is reacting.
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So this lolz.
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Okay.
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You find out price is reacting to this levels.
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Once fries get to this level they tend to reverse.
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For example prize goes to this support area was fries go to the support area went up it went up got
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a resistant area somewhere here.
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And it went down.
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Okay.
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He also went down to this support area and he went, okay.
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Find out.
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Price are reacting.
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Whenever price gets to the zone, the reverse price got here and it was to the downside.
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Price.
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Got to displace an investor offside.
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Fries goods to.
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Here I was to the downside, you know.
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So once fries get to these areas of support and resistance, you're expecting two things to happen.
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We are expecting either the price to revise, which is what we want all the prices to break above these
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areas.
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So once price breaks above this area is what we are going to do is to wait for every test of those areas.
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We are now going to enter the trade immediately.
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You allow the price to break, but those areas close above the area, close back to the previously broken
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area to test before you enter trade in direction of the trend.
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Okay.
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But if fries, if the level holds, will enter our trade for a reversal.
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Okay.
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So that is it.
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So let's go to another side so I can also show you how to draw support and resistance on this chart.
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Okay, we are on Nzd JPY then the charts that nzd JPY daily charts.
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Okay.
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So the first thing we are going to do is change the candlestick chart.
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Okay.
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You can use your crosshair.
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Across her two empty four.
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You can use a cross to empty for.
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Let me change your mind.
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To block.
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Okay.
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Can use your crosshair to an empty four.
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Try to move it.
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Across the charts whenever and any way you see the price touch two times, at least two times.
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That's where you place your exist, support and understand areas.
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Firstly, the price starts here.
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I've seen one price touch there.
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Firstly, the second time the price starts here.
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Okay.
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That makes these a valid.
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Resistant area.
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Let's change the candlestick shots.
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So let's change a candlestick so we can adjust the line to fit in properly.
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Okay.
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Less adjusted products on this land is resistant, letting you find out that the price even posted more
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onto the tank.
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It's the first time those charges have on time.
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Came here and pushed the dog time.
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Kim here.
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I thought the fourth time also came on us for the fifth time.
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So this is a strong resistant area.
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Okay, so guys, let's place another line on the charts.
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This place on the land charts.
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Click on our crosshair indicator.
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Try to move it across the charts while we are moving it.
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We're looking for a way of price, but at least two times.
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Okay.
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Price.
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Torture the first time.
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Flash torches are gone, Lee told me.
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Look, this place is invalid.
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So what area?
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So we are going to click on online and place it under Zoom.
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So once it will click, once we place on the zone, the next channel going to do is to change the candlestick
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chart.
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Okay, I've changed the candlestick type, guys.
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So the next thing is to adjust it properly.
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Okay.
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Kind of that's torture.
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Firstly, I went up, came here on 22nd time and went up.
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He also came to this place and touched it all the time.
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I went up.
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So, guys, you don't have to trade this support and resistant areas as just a line.
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You don't have to trade support and resistance areas and just a line.
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You have to treat them as zones.
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Okay.
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You have to treat them as zones.
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Because sometimes when prices get to these areas, they tend to look as Seif price is back in those
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areas.
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Okay, let's fight this stuff.
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This is the difficult because what we call figure outs on the forex shots, it looks as if price is
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going to break those areas.
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But after some hours, the price reverses back.
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Okay.
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So in our favor, so what we are going to do to avoid those areas is to treat displays as zones.
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Consider them as zones.
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Okay.
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They are not just support on distant areas and not land on the chart.
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They are zones.
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Okay.
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So price when prices get to those zones, price is that aspect.
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That's the red zones, all three of us.
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Okay, so let's add one more area on the chart.
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As I go out, we change to our lunch jobs, go to our crosshair to run across the shots, look for their
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price bonuses at least two times where price pushed at least two times posted the first time.
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Let's try the second time and maybe here the third time.
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Okay.
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As far as it has touched two times, that makes it a valid area.
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Okay.
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So we place our line on that area.
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Click on the candlestick chart to change the Kondo stick, then adjust our line to fit in that area
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properly.
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Okay.
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Find out the price here and what on more than two times price to show the first time once down.
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Rise start.
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Share this up on time once all.
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Okay.
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Christ touch her.
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The third time I moved out of.
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Was priceless.
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The first time.
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Sorry I reacted.
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And most of it came to this area.
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The first time I know some.
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Okay, so this support and resistance is like self-fulfilling prophecy.
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Okay.
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Yeah.
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Self-fulfilling prophecy.
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Prophecies.
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So when they get to those areas, they always reverse.
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He said that the reverse all.
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The break.
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Okay, so that is it.
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On how to draw support and assistance on your chart.
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Remember, we are going to do first is to change to a line chart, change your line charts, look for
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areas where price has touched at least two times.
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If Price has told us that a at least two times, that makes it invalid.
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Support an adjustment area.
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Okay.
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You change back to your candlestick chart to adjust the area properly.
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Okay.
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Before taking your treads from those areas.
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Okay.
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So, guys, that does it for how to draw support areas.
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If you don't understand this video, I recommend you watch this video at least four times to five times.
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So kind of thinking.
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Okay, watch it as many times as possible so you can understand the concept of drawing support and resistance
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areas on your chart.
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Okay.
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So in our next video, we'll be talking about the breadth of support and is what happens when price
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breaks new support and resistant areas.
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Okay.
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What do we do when price breaks to support an incident areas?
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Okay, so, guys, I will see you in as we do.
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You guys should take care of themselves.
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Okay.
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But.
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