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A Better Way to Use Support and Resistance

Here’s what’s interesting, let’s take a look at WB a it is bouncing this mouse for three days, it’s been a nice little sell off, but now it’s bad, some pretty good. So see if we can get an entry on this bad boy here if we follow the rules according to the plan here, so it’s closed above 4822. So now we just need one two or three days above that cloud, in order to potentially initiate a long position there now, where might it go will probably be fairly easy to figure out when you’re doing support and resistance line. So what we’re doing is we’re gonna wait for it to go close above 4861 for at least one to three days. It’s not there yet, but it’s close. Then we’re going to move all that and here’s how I like to do support. If you just do it right there, you’ve only got one candle you’re hitting, if you do it right there, you’ve got two, three candles you’re hitting. Now if you do it here, you got four candles, and then there is five, there’s 678 Okay, now we got 1234567. And then I’m concerned that eight even though it’s above it, and there’s not, that’s a little bit better area of my opinion, for a target of 5089. So if it can get above, like I said earlier around 4868 It could potentially go to 5089. I’m going to be doing a special live webinar on the mother of all bubbles Tuesday, December the seventh at 12pm. The market is rocking, it’s starting to bleed lower today. It didn’t bounce. And we’re not out of the woods yet by any stretch of the imagination in my opinion. I think we’re gonna go a little bit lower. Actually, I think we’re gonna go anywhere from 14 to 40% lower now it takes a while to do it’s not gonna happen in two days, right? So I’m gonna do a webinar showing you how I plan on potentially profiting from that more hyperlink to the registration page. Good luck. Hope it helps. I’ll see you on the next video.

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