Home Trading Strategies How to Draw Support and Resistance (My Secret Technique)

How to Draw Support and Resistance (My Secret Technique)

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How to Draw Support and Resistance (My Secret Technique)

so in this training video you’ll discover how to draw support and resistance like a professional trader and by the end of this video right you’ll learn right how just a few simple lines on your chair right is able to predict right market turning points ahead of time sounds good right and the best part is support and resistance it can be applied to different markets or different time frame right I’m going to show you how to do it on the forex markets the stock markets we will draw it on the higher time frame and the lower time frame so by the end of this video you’re really right would master how to draw support and resistance so it sounds good then here’s what I want you to do right now hit that thumbs up button ok below my youtube channel and the subscribe button so this way whenever I publish a new training video you’ll never miss another one ever again so go do it right now hit that thumbs up button subscribe to my youtube channel have you done it then let’s get started now before I share with you how to draw support and resistance I first want to show you how not to draw support and resistance so this is a perfect example of how not to do it why is that because that’s just way too many levels on your chart when you’ve got too many levels on your chart how do you know which levels you want a tree ok you can’t be buying into support and if you’ve got too many levels the next thing you know a few pips away there is another resistance and you know you might think that oh man I’m so no resistance I shouldn’t enter a trade so you can see they know there’s just no room for your trade to move because you just put in too many levels you get analysis paralysis you don’t know which level to focus on and you get you know frustrated so this is how you shouldn’t draw your support and resistance level ok so now the question is how do you draw it let me show you how I do it is that I use a tree simple steps right that I’m about to share with you number one you want to zoom out your charts right you want to see the big picture right once you can see the big picture you it’s much more obvious to your eyes right which are key levels you should be paying attention to right if you’re on trading view I’ll share with you later how you can do it number two you want draw the most obvious level if the level sticks out that level matters if you know you’re squinting your eyes trying ask yourself instead the level is there not then it’s not a level ignore that okay and I’m a tree you want to adjust your level to get the most number of touches so let me explain these are three steps so over here this is a typical trading view chart let’s get started right just click reset shut everything is back to its default view so how do you zoom out your chest I like to typically zoom on you know five to ten times so you can user if your mouse has a scroll right you scroll you scroll down scroll it down about ten times one two three four five six seven eight nine ten right there are some levels here let me just remove it okay now we are starting from scratch so that’s the first thing zoom on your charts second thing draw the most obvious level so that’s what I’m going to do right now so from the looks of this I can see that this is a very obvious level okay this over here is an obvious level this one over here is an obvious level this one I can see this one here this one over here pretty obvious as well okay this to me right from the looks of it right now these are the most obvious levels to my own naked eye you can notice that I can do it pretty quickly right there’s no need to ask yourself second guess right because if it’s there it’s there if it’s not there don’t waste your time so I’ve done the second part draw the most obvious levels and the third thing is to adjust your levels to get the most number of touches what this means is that you want to shift your support resistance right where the price hits the level the most number of times so for example let’s look at this so for this one over here I could actually draw it absolute highs but I don’t want to because remember I said I wanted to touch the most number of levels so actually if I were to ship it down lower somewhere here notice I can get a few number of touches right if you this one pretty much exceed by quite a bit so you have one two entry if I want to occasionally draw another level over here okay so now you can see that your support resistance look somewhat like an area at this point over here okay let’s continue on adjust this one so if this one again I can just adjust it slightly lower and I get more touches right over here one one touch two three four and this one you know exceeds by quite a bit I can draw another level if I wish to but I want to keep my chat screen so I’m just gonna use one level this one over here right if I just adjust it right slightly higher okay notice that here I can one touch to touch three four five six seven eight nine quite a number of touches right so you can see that this is the how I adjust it right to let the price touch it the most number of times same for this right I don’t want it to be drawn my level over here at the extreme low I want to get as many touches as possible to get the price section involved right at the level I’m drawing so if I’m gonna shift it up slightly higher you can see that I got one over here right looking back 1 2 3 4 5 and then 6 plus this one just broke down ok again same thing for this one adjust it to get the most number of touches I’ll draw it something like this or I can just look to the left or I’d see one touch 2 3 this one didn’t really touch a bit if I’m gonna shift it up higher I might miss this one out so what I’m gonna do is that I’m gonna you know take into consideration the recent price action it has more weight ish so I want to give into this a recent price section first to get this touch over here ok we have a few more touches behind same for this one over here right I’d want to draw the extreme low I push it up slightly higher get this touch in involved right this one as well this one that’s a false break now I’ll just you know leave it there and you look back you almost got this one as well so I just shift it up slightly higher as well so from the looks of it you can see that right now the levels of my chat right they are much cleaner and now one look at it you know which are the key levels then you want to pay attention to and that you want to trip from so this far is first example alright let’s go to another one how about pound dollar ok have a look same concept right let’s just reset this once once again and do the that I just mentioned first step sumon your chats so I was room out just 10 times to keep it consistent right 1 2 3 4 5 6 7 8 9 10 right now you’re looking at the big picture step number 2 draw the most obvious levels all right let’s do it here this is obvious to me this is obvious this is a pretty obvious this one here this one here and perhaps this one here okay so now let’s do the adjustment I really I’ve really drawn out the most obvious levels notice that I didn’t spend time you know wondering you know is this a level is this not a level none of that so now time to adjust so this one over here I noticed at this level if I just look to the left okay I can actually adjust it a little bit higher okay getting involved with this touch and this one and this one behind okay fair enough this one I’ll adjust it right slightly lower taking to account this level this and this and even sometime this one over here in the past for this one here I could adjust it slightly higher okay perhaps something here like this got this level this moment this this involved and also towards the left way I missed this one but a bit but it’s pretty close by as well okay for this level I’ll adjust it let’s see you wanna get the most number of touches so I’ll shift it down I would say this one over here would be a better one right let’s not I’ve got one touch to this one on three for this one here as well five and six you notice that I didn’t put it at this most recent low over here because if I were to do this right it’s gonna get a lot of touches and back over here where all this one just to pay the price just I just slice through the level so I want to adjust it where the price get the most number of touches so in this case I actually did sacrifice the most recent high so shifting up here ramier would be a much better level to draw notice that it gets the price action more involved at this level and finally I just know finally this one over here I would shift this up slightly higher one two I can see over here three four and a few more behind and similarly for this one over here I don’t enjoy that any extreme low I’ll try to get more touches involved in fact up here I can get this one involved as well one two three and four okay so that’s pretty much right it right on how to draw your support resistance level you don’t do one more right just one more right just a quick one let’s do dollar yen before we move on right like I said that this is so so so important right go and apply draw the levels and trust me you’ll see the markets in a different light so I think in the real rate peel and blue pill you take the blue pill right that’s it right you’re out of the matrix you see the markets in a different light so dollar yen right same concept right zoom already draw the most obvious levels I’m gonna draw this this is obvious to me this this this and this okay so you can see that I do it very quickly I just draw the most obvious levels if it’s if it’s there it’s there if it is a move on so time for the adjustment so this one I’ll shift it up slightly higher right again this one over here get involved these two touches and this one a nor this not really a touch but a brick true then you have this one over here right I’m gonna adjust this slightly lower kay can see you involve this level this one over here this one this one and this one right number of quite a number of touches I thought this one as well I’m gonna adjust this slightly higher so you involve more of the price section you can see one level two one two right three and back over here as well over here I’m gonna adjust this possibly like this okay I can involve this area of the price section as well as this highs over here and as for this one I’ll shift this one slightly up higher involving this price section one touch two and three and for my coop slightly higher but it’s not be a little bit too much as I pretty much ignore the recent low so I’m gonna shift this down lower getting the this lows involve as well so that’s how I would draw my levels for dollar yen and there you have it right how to draw support and resistance okay so now let’s move on to something different how about the goal market we go on to a lower time prim likely to our timeframe okay same concept reset your chart zoom out one time two three four five six seven eight nine ten right I do it ten times by relief you’re not 15 times 12 times 13 times whatever is your magic number feel free to go ahead then the next thing we’ll do is to plot our levels the most obvious one that stick out in front of your face those are the levels that you want to draw so this is a how I would do it I’ll just do it without thinking too much because the more you eat the more you think right chances are the level is not there so if it’s there it’s there if it isn’t move on quickly okay so I’ll just draw what I see which is obvious to my eyes right now okay so once I’ve drawn it I wouldn’t want to make some adjustment some tweaks right to get the most number of touches kind of like no curve fitting the levels to get the most number of touches whether the touch can include the body of the candle or the wick of the candle so for this one over here I would kind of leave it like this okay so although this was just one line right my mind right the way I see it is actually an area so so let me just see if I can get a tool to draw an area where it’s the rectangular tool okay so something like this so even though it has one line over here my mind is tuned to see something like this okay but the reason why I don’t draw this because if I were to draw boxes my chest would be feeling way too many boxes and is too cluttered so I just prefer to have a single line on my channel but remember my mind right is trained to look at this lines as a level so depending which is your preference if you’re not draw box that is fine as well but I prefer to go with line because it’s much cleaner that’s less clutter okay so this is how I would further do this one adjustment this one here I would shift this one slightly up higher one touch to three and four you can see this one here okay I think I think this yeah okay pretty all right I think there’s another level here that I just saw this one here if I just shifted slightly up higher okay I think it’s just somewhere about here would be good okay I incorporate this level this this this one this one and all this but I kind of miss this one over here this one year okay I think this level got the most number of touches okay shift this one downs okay got one touch two and three and even for this level here okay I caught this one I’ll shift this one here goes about to draw here right I wouldn’t miss this one and this one also is still quite way off so I’ll just shift this slightly lower right in to incorporate this level in this level okay so that’s how I would draw for this this gold chart you can see that it’s a lower timeframe the concept is the same right different market is a commodity this is a lower timeframe hey it still works how about different market let’s try one more maybe stock stock markets shall we yeah we can try Apple okay since that’s that’s always on everybody’s mind Apple okay same concept let’s go to daily timeframe okay reset chart to zoom out 10 times 1 2 3 4 5 6 7 8 9 10 so again I’m just gonna draw quickly the most obvious level that I see and then we made the adjustments later on okay so these are pretty much what I have got so far so let’s make some adjustments shall we so I just wanna shift this slightly lower to about here so I get about a 1 1 2 3 before touches here for this one I think it’s quite okay maybe just slightly lower okay so I got I got uh no I think bit slightly higher okay yep I got this one is well here okay so 1 2 where this was almost 3 shift this one slightly lower okay I’ll relegate this recent price section right so we can see quite a number of touches here this one here eh I would shift this one slightly higher right they came to come this this level over here okay so that is this gap over here a price rejection you can see this one here okay 1 2 and it’s a false breakdown I’ll take it is a I’ll just ignore it then 3 & 4 so yeah I just adjusted this chat let me reset it 1 2 3 4 5 6 7 8 9 10 right then we have this level here right nice bounce and then pretty much got this 1 2 3 about 4 here then this one back in time slightly which at this point I would shift it down to get I would say this one over here okay so you can see that I got is one bounce here 2 3 4 & 5 my shift is slightly lower okay I think it looks it looks better fitted at this level here okay and this one here is quite straightforward just shift this slightly higher and you get all the touches at the bottom of here on a pole okay so that’s pretty much it right I hope all these examples that I’ve shared with you so far it gives you a very good solid idea and foundation right to throw your support and resistance and trust me this one needs practice but the more you practice you realize the better you get the more accurate right your levels become so go ahead practice it right you know twinny torito’s charts are each weaker and use finance of improving right over time okay so now for those of you who wants to you know uh learn more about you know support resistance price action trading what I suggest is you can go down to my website over here I’ll just put on the link Yoji actually trading with friend come just scroll down and I highly recommend you get this guy the ultimate guide to price action trading because now that you’ve learned how to cross support resistance right how do you treat these levels when you enter when do you exit okay what about market structure so all this right will be in this cover in this guy the ultimate guide to price action trading stuff that I have no time to include in this video and this guy is completely free right just click this orange button right and I’ll send it to your email address for free so go ahead and do it right now trading with free inner calm the link is on top here click this orange button and I’ll send it to your email address for free so that’s it I have come towards the end of this video if you have any questions write comment below right how would you draw your support resistance leave a comment below and also don’t forget to hit the thumbs up button subscribe to my youtube channel until next time I’ll talk to you soon you

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