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Trading Strategy with Support & Resistance: Where to Buy / Sell and Set Stops

2020 5/31
Trading Strategy with Support & Resistance: Where to Buy / Sell and Set Stops

Support and resistance trading seems simple enough but therein lies the greatest risk – complacency. That reason many traders make mistakes either with where they buy and sell, where they set their Stop Loss and Take Profit. Fortunately we have David Jones who will guide us in this endeavour for beating the markets.

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  • Brian Driesenga says:

    Very nice explanation, thanks!

  • PRABHU Anandan says:

    at this video @ 8.20 to 8.40 minutes in the graph there is an hammer pattern with the bearish .
    can it will be also the chace for falling of 150 points …..
    MR.david plese say this for the considaration

  • PRABHU Anandan says:

    anyhow it’s more usefull for me for finding the trading resistence and the support ..tq

  • Isaac Rapheal says:

    Hi,how do I indicate take profit and stop loss in a market execution. I have tried without success.

  • Jude Capricien says:

    Where can I download your trading chart?

  • Michael Bolin says:

    Thank you. Common sense nice overview of perspectives

  • Mpho Tsakata says:

    Thank you for these lessons, you just clarified a lot of things I didn’t understand.
    And again which software are you using there?

  • Jose Mesa says:

    Im wondering where take profits would be placed? In the second example I noticed a lot of bounces off the support line, however they only went so high before coming back down. Where would be a strategic place to put take profit in order to ensure some gains before the market just comes back down? Apologies if there is already a video on this. Best regards David Jones you are a great teacher!

    • Ricky says:

      Jose Creed from what I’ve realized is, say the resistance is 5 dollars for example, I would just take my at 4.60 cents or 4.50 cents. If I got in at 3 dollars, I’m off the train at 4.50-4.60, cause everyone is trying to get off at the perfect platform which is 5 dollars. So let’s take Microsoft for example, if the support was 102 and the resistance was 110 this is me just speculating I haven’t check support or resistance on it, I would get off at 108.50 or 109 depending on if you’re trading stocks or options. But, remember the ATR also, and pick your options wisely.

  • Mageswaran Pachamuthu says:

    Good Job! What is the time frame?

    • Trading 212 says:

      Hello Mageswaran, different time frames on the chart are used in this video. As per the current interface, you may find the icon that indicates the selected time frame in the web app’s toolbar at the chart’s top left corner. It’s the third icon from left to right, between the “Zoom In” and “Chart Type” icons.

  • Cesar Barros says:

    What platform is he using ?

  • Seth Brown says:

    id rather miss a move and not lose or make money, than anticipate a move and lose money.

  • imet2009 says:

    Moral of the story,
    1: analyse your resistance and support lines,
    2: await for confirmation,
    3: put stop/loss’s in place just in case your readings aren’t as predicted.
    —- > outcome if your prediction goes well, well done. If you lose cop it on the chin and move forward.

  • David Carroll says:

    This is one off the best the BS explanation of hiw to use R&S ive come across. I

  • Robert Falls says:

    great advice here.this video cleared me up on a lot of things as i’d earlier been stopped out of trades several times.

  • CausticMain says:

    Stupid question, what purpose does a stoploss above a peak serve?

    • Jung Sa says:

      to minimize loss on short positions?

    • Abel Nautwima says:

      There is no stupid question only stupid answer

    • Dane Spear says:

      From my understanding you don’t want to have your stop loss at the support / resistance lines but a little further out to allow the market to test the strength of the support / resistance.
      Very often the market will test the strength, try to push through then fail and correct again. If you had your stop loss on the line you would have been stopped out before the market turned.

  • carlos cervantes says:

    What platform is he using

  • M D says:

    In a sideways trend, when watching for breakouts or confirmation of the continuance of the trend; what are some technical oscillators you might recommend to aid in predicting likely future price movement? Your videos are very informative, clear, and a great source of advice. Thank you!

  • CALI 817 says:

    Great info 👍

  • Anesius Albogast says:

    Thanks

  • Deodatta Kardale says:

    Thank You !!!

  • Dr Abid Khan says:

    Thank you

  • Hồ Gia says:

    Like..
    😄😄😄😄

  • abdellah elattar says:

    Good explaining

  • Utterly Random says:

    I love how he’s support/resistance not over exaggerated very simply based on price candels trending.

  • AppleTechPro 4U says:

    What platform or website is he using to see the candlesticks ?

  • Aniruddha Brijesh says:

    I’m needing trade expert. bots loss too much, help

  • Sujeet Dubey says:

    This is completely useless as this never work in live market

  • we_deserve_challenges says:

    Really good video guyz!
    It is the second one what im watching from your channel … and it is really full with good quality informations !

  • Jonren Gallana says:

    Well explanation

  • Nard Dog says:

    sooooo buy when its near the support line, and sell when it is nearing the resistance line? I’m just getting into trading, and I’m watching a lot of videos

    • Arek Parsons says:

      I’m pretty new to this too, but that’s the same message I’m getting.
      Edit: Just also realize it might not get close to the Support or Resistance line, so plan accordingly. (Thats where the stops come in?)

  • European Bourgeois says:

    Trading 212 is awesome.

    • Vu M says:

      the best!

    • Michael_Pintard18 says:

      David this is good but question … it’s not always smart to sell at the resistance line because it MITE breakout … So you need to give them under what conditions will it breakout or not .. We don’t want them to always sell at the resistance line if there are clues it will breakout. Clues such as 1. If it’s holding support & low float .. 95% it will breakout when it reach the resistance line. They will need to BUY not sell.

    • Jervin Galang says:

      @Michael_Pintard18 what does it mean when it is holding support and what is low float? TIA. new to this and just started learning.

  • Mimi Henry says:

    When you refer to getting confirmation, what does that involve?

    • Njoku Godgift says:

      it involves having a positive candle shown up which implies the likelihood of reversal

    • Refilwe Lebona says:

      Meaning if the market was bearish and the price action tested the resistance line like it did 3 times, we would wait for a positive candle stick or bullish candle as confirmation before we effect the buy?

  • Ricky says:

    Thank you David. Will try this tomorrow. Will do it on options for 1 contract, let’s see how it plays out.

    • Vaughn Cameron says:

      How did it play it out?

  • unes savari says:

    What’s teh name of the software this guy use to teach and show Stocks

  • Wavemaker says:

    The video is 11:11 long. I say this is a sacred video.

  • uwesu saidi says:

    thankefully for your presentantation so nice keep it up to support all not yet to understanda about how to trade on forex

  • Ricky says:

    This is all I trade! Support and resistance. With all the Sma and the whole nine yards, this is the bread and butter!

  • Attila Simo says:

    So if you are an new trader well you have to wait for the another one or two candles to see if is a strong confirmation ! Maybe you fail to open or close actions in the right time but you are safe like this.

  • jojo says:

    I dont call trading 212 trading 212

    I call it trading 2 12 for some reason

    • Oh hi there says:

      I will call you j ojo then

  • Hayden Harris says:

    As you don’t know where price is going, stop let are ridiculous. Traders are taking unnecessary losses because they don’t have enough money to keep going.

  • Hayden Harris says:

    Support and resistance is purely a hindsight observation of accumulations of underline reasons.
    Support and resistance is not an indicator for future trades.
    This is the same as a critic talking about a movie.
    Hayden .

  • Celestine Emili says:

    This video is so helpful

  • Asif Huseynov says:

    could you pls prepare video about gaps what is gap? types of them and etc

  • I am a BELIEVER PRAVEEN KUMAR says:

    Sir I request you to make a video on indicator BULLS POWER and BEARS POWER ……
    and also HOW TO USE THEM COMBINEDLY

  • Gerro Verkerk says:

    What program do you guys use to show these graphs on a laptop/pc?

  • Home sweet Knowledge says:

    Thanks sir i learned a lot

  • fxtrades says:

    Very good video, thank you David

  • Sameer Ahmed says:

    Thank you sir

  • Antoine Vallieres says:

    Why not setting alert ? Seems totally logical

  • Antoine Vallieres says:

    Love your way of putting it all together

  • Meshack Kirui says:

    Let me ask this, Does trading 212 allows their customers to deposit and withdraw directly from their website using master/visa card?

  • Elly Gasper says:

    How to download that platform 212 trading

  • Jeffrey Jon Obaña says:

    Why do you need three monitor

  • Arize R says:

    how do i get this app on my mac??

    • BIG BABY Shawn Rossin says:

      Arize R you can’t I tried you have to have windows 😩

    • Trading 212 says:

      Hi there, David is using the Trading 212 web app to trade. It’s web-based, so you can access it on any desktop computer. You can find out more and open a free practice account here – https://www.trading212.com/en/Practice-for-Free-GBP

  • Fun world says:

    Good info and gorgeous style to define your knowledge i like it i see some more channels on youtube but i cant find good teacher for teach us but i see some videos of your channel i like your teaching style man i really appreciate your teaching style

  • Aswin john Perayira says:

    Actually i tried to trade but lost the money…first I’ll get it and then it goes I’ll loose the money…. I don’t know when to sell or buy??? Can you help me out with telling me when to do it?

    • Regina Ebanks says:

      Aswin john Perayira same with me !

    • Trading 212 says:

      Hi there, we can’t tell you when it’s best to buy or sell, but you can check out some of the other trading tutorials we have, and you’re bound to get a better idea of what to do in regards to opening and closing your positions.

  • MK Z says:

    Thank You for sharing these info! May I know what software are u using?

  • 他殺自殺 says:

    I have a question. For example i bought 1 dollar for 100yen, can i wait til the yen went up for me to sell to gain profit regardless how long i wait?

    • Real Pope says:

      There is swap cost or carry over cost…You don’t even know when the price will come back

  • Edward Daoud says:

    Could you clarify what do you mean by CONFIRMATION? What do you expect to get back and what is your course of action whether you get confirmation or net

  • Bainsworth says:

    this is clear as mud

  • Vu Phan says:

    Hello.
    When i analyzed the price at daily time frame, after closing price it appeared long bearish candlestick, the price closed near lower band of Bollinger band, however i moved on to hourly chart, i saw the price at lower band of Bollinger band and the RSI was oversold. What should i do at this situation? the price is going to be down trend. For me i sell at daily time frame, is that right?

  • Mohsin Khan says:

    Great job sir… you taught very well and i got 100% ..! Respect you sir from Pakistan..! Very well guided.!

  • ポーグランデ says:

    forex is not that simple.

  • wtw1ster says:

    Love these tutorials. Really appreciate all the examples. Showing me all the examples helps me learn so much!

  • Friedrich. Nietzsche says:

    Blah blah, all stocks are different, you wanna be a winning trader? You had better teach yourself. No scientific or muddled approach will get you there, you gotta be a 🤩 or ☠️to your trading account…

  • Avineet Prabhakar says:

    Trading since 6 month what should be my risk management….

  • Yousaf Khan says:

    Hi I’m new to trading can you give us a video showing how to use your app as it’s a little difficult thank you

  • khorshid tabande says:

    thank you for teaching basics i was going to be frustrated but now im feeling better and im getting better results watching your videos.

  • Racheal Jones says:

    Good video, I have been trading the forex for the past 2yrs I can tell you it’s a fierce one.

  • Ethelbert John says:

    Good video

  • Keaton Morgan says:

    It’s a good strategy, best to trade safe with a proper risk management.

  • Crowd Control says:

    since this is basic technical analysis, can these technical analysis techniques also be used for stock trading?

    • Jeff Hudson says:

      Of course it can be used

  • Nora Georges says:

    it’s amazing

  • annono critic says:

    Thanks for talking English that every one can understand

  • Matt s says:

    If you’re a long term investor and want to put in a buy order, and you have drawn your support level but the resistance is more of a zone rather than one level, where do you put in the buy order? At the top of the resistance zone or bottom?

  • Simon says:

    does trading 212 have a level 2? and also direct market access in real-time?

  • Ace Hardy says:

    🙏

  • kevin millican says:

    so when u buy a share at a price u but at if it drops below the price u baught at does that mean u have lost your share ……. can u just wait for it to pick back up …..im a bit confused lol

  • Platinum Johncrow says:

    Was hardly paying attention but I ended up understanding and it answers many of the questions I had. You are great

  • Grant Bierling says:

    David is there a video on “Stop losses” and how to use the Trading212 app with regard to factors such as “Confirmation”

  • Barry Mohammed says:

    Is the 50 EMA an effective indicator for support and resistance? If price is below the 50 EMA and breaks it with a bullish candle, should we go long?

  • Victoria Barnes says:

    What is the truth behind forex

    • Alexa Conrad says:

      Only few traders make profit trading

  • Miles Black says:

    Hi, I have a question. I don’t really understand the logic (though I’m sure it exists) or stop losses. Surely if the market turns against you, you should wait for the recovery before selling? Or does this run the risk o closing your account? Also, I don’t understand how/why it closes your account? Please could you answer these questions, thanks 🙂

  • Saidi Ayoub says:

    thank’s

  • Richard & Samantha Whitehead says:

    Clear and informative. Thanks

  • NİHAT YILMAZ says:

    Thanks

  • Dark_Dirt Tv says:

    I’m 4 days in using ‘real money’ I’m not going crazy with the deposit just pocket change. Weather it’s pure luck or this actually works I’m in profit by 7% 👍🏻 my aim is to build an account slowly so I have some funds to play with 😱

  • Simonj Kimona says:

    BANALLY what is a suport and a resistance?
    HOW TO READ THE CANDLESTICK? how does it work?
    WHAT IS THE GREEN CANDLE COMPARE TO THE RED ONE???

  • Aeron Elexander Cole says:

    Will your app support us citizen’s?

  • Mert Kurt says:

    thanks a lot sir

  • IGM PV GOA says:

    I am very new to investing in stocks. This is by far my favorite YouTube for trading. I have learned so much since I started watching. Thank you!

  • gab bosko says:

    nice… also a cool cypher pattern at 5 min

  • edofarido says:

    what kind of software is this? doesnt look like mt4.
    does it runs on macbook pro new version catalina as well?

  • Alex Nguyen says:

    I’m kid. Me want to know how do stocks.
    I want to get money!

  • Abugu Hillary says:

    Please what settings did you use on that trading view website I mean how you change the color and the rest chart settings

  • Alan Crean says:

    at 9:32 you shouldn’t be a buyer due to the fact that when a support or resistance line (in this case a support line) is tested persistently, the more likely that level is to break.

  • Gunjika Misra says:

    Awesome!!!

  • Leonardo Rojas says:

    In my opinion this is a very good lesson but I would complement it saying that in my experience it works if the resistance/support level is being tested for the second time maybe the third (depending on the volume), if you see that a resistance/support has been tested multiple times then a breakthrough is inminent.

  • John Nikitin says:

    Trading 212 Is The Most Helpful Channel For Forex Trading!

  • Daniel Shaw says:

    Hi, do you place a resistance line when the market has an overall positive trend? and vice versa with support lines too?

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