Hubert Senters here.
Let’s take a look at Apple. Now, we’re looking at Apple because I kind of want to bust a little bit of a myth here. A lot of people will incorrectly or improperly in my opinion and this is just my opinion. All these videos are just my opinion.
Supporting resistance is a good tool. It’s a tool. It’s a hammer. It’s a screwdriver. It’s as all. It is not a high precision laser guided missile heads of the viewer ever seen yourselves. Those things are not as precision as you think either but way better than just discriminately dropping bombs everywhere but they’re still, you know, I get errors in them.
So when you’re looking at supporting resistance what you want to do is you want to eyeball, it’s an area of interest. So if I was looking at Apple here, a lot of people will — let me remove. Let me toggle off Ichimoku here really quickly. So I’m toggling it off, status it off.
If you’re looking at it and you’re going ‘’oh, well this is the resistance area of Apple and then down here is the support area of Apple.’’ And yes, you would be correct. But heads up, you don’t want to just trade off of those numbers.
What you want to do is it’s an area or a zone where you either want to become a buyer or a seller, a seller. So what I would do is I would say ‘’well, it’s actually from about here to about right here that looks like a good resistance area.
And then if we zoom back a little bit here and Apple I would say this area right here would be a good buy or support area of Apple and there’s other ones too like you can say ‘’oh yeah, here’s another one. Here’s another little area of support on a smaller little support area. ‘’
So you could have bottom support and this would be another top line support. Then there’s overhead resistance so when you’re doing support resistance please don’t fall for the — oh my goodness, this is the exact supporting resistance because that stuff doesn’t really work. It’s a zone of interest that you can trade around to increase your timing or your entries or your exits.
Good luck. Hope it helps. See you on the next video.
Hubert.