How do we use candle sticks to help find our support and resistance lines?
Watch these 2x video’s as they explain the different aspectspurpose of candle sticks and how they are used for trading.
Below is a screen shot of the BTC chart using candle sticks.
* Click on the chart for it to be enlarge.
Note on the left plain, we have the weekly chart and on the right, we have daily chart with the WEEKLY support and resistance lines.
This technique helps define pivot points for price action.
Now we also use the magnet feature to get our lines exact to the body of the candle or the tip of the wick.
The next chart after that is what happens after making this video. Note how the weekly lines effect the daily chart and also we added the Fibonacci levels to demonstrate how everything has confluence as some key levels. Meaning Fibonacci
and weekly lines.