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Or reggae's 3.8 is the last man standing.
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And the first man in line.
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This is an extremely extremely important level that we all should pay attention to because it serves
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as a very important psychological level.
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And this usually is where momentum starts from you can usually see a big push of momentum breaking out
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from this level.
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OK.
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Extremely strong supply and demand level.
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Let's get to some examples.
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So by now you guys are able to draw rectangles.
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Right.
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Able to draw your lines and now we're going to learn to identify where the last man was and also where
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the first man stood in line.
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OK what do I mean by that.
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All right let's take a look at this.
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K. so this is a range and we have a ceiling here.
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This is support right.
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There's a tie.
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There are the Bears selling us from this point game trying to push prices lower right.
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First try second try third.
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There's a lot of people in water and what you can see here is that you can assume most people thought
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the stock is right above the line.
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OK.
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So when price broke the upside finally of these traders ended up being the last right and that cost
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some sort of a bad memory a painful memory for them.
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Right.
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And this bill does in the future it serves as a psychological lever for them.
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So this is where the last bear stood.
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Right.
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And when price returns to the level again they remember that this was the point where they stopped out
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previously and seeing that the move has changed direction.
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They're ready to jump on the next train.
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Right.
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This is the level where the first man stood in line right here where the last man stood here.
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So I remember this may look like just an ordinary resistance line but it's slightly different because
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of what happened in this area here.
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And of course for people who are getting along in israeli how big the candles are there's just a point
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where they're ready to buy back Jagers another one here remember this is a very significant level.
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Right there
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see how many times price is tested this resistance line.
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There's also that supplies sitting down here
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so basically transmitter's very strong breakout trap of these silos here with this thought process over
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here.
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Priced immediately made a new high in a matter of a few candles.
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And when he came back for the first time right here
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this is a good opportunity to re-enter although in this case it failed to make them higher high.
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So the criteria is are it had to be a level where you can see that most traders are burnt and also the
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second rule is that you have to see a strong momentum that spurs up from the level here.
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Right.
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Well momentum's first and an extremely important psychological level.
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Get one find like Zambal here last man standing.
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And first man in line.
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Right there.
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By now you should be able to see patterns.
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All right.
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Big Break.
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All right big momentum at this point in here.
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When it came back to retest for the first time this is where the first many lines the K and this little
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marks the place where the last mass that OK.
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And that wraps up this chapter.
5280
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