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How to use trendlines
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I think I can understand it this way for support and resistance levels
1. The previous low point of the stock price is the support level.
2. When the stock price falls after reaching a high point, we can consider the high price as the resistance level.
3. When the stock price breaks through the resistance level and reaches another high point, the previous resistance level becomes the support level, and the new high point becomes the new resistance level.
4. When the stock price breaks through the resistance level, it indicates a strong upward trend, while when the price falls below the support level, it indicates a strong downward trend.
Practice Case:
Here, I used weekly candlestick charts to explain: $Global X Nasdaq 100 Covered Call ETF (QYLD.US)$ First, let's look at the charts, and then the explanations will be easier to understand.
It will be easier to understand with the chart first and then the explanations.
A-1 is the previous low point, we can consider it as a support level. You can see that the stock price did not fall below 1 and continued to rise.
B-When the stock price continues to rise to the new high of 3 and then falls, we can consider 3 as a resistance level.
C-After the stock price reaches the resistance level and falls back to 2 to retest the previous support level of 1.
D-When the stock price breaks through the resistance level, it means that the trend of continued upward movement is very strong. 3 and 6 are the resistance levels, and you can see that the stock price continues to rise after breaking through the resistance level.
When the stock price breaks through the resistance level and continues to rise to another high point 4, the new high point becomes the new resistance level...
👉
👉
I think I can understand it this way for support and resistance levels
1. The previous low point of the stock price is the support level.
2. When the stock price falls after reaching a high point, we can consider the high price as the resistance level.
3. When the stock price breaks through the resistance level and reaches another high point, the previous resistance level becomes the support level, and the new high point becomes the new resistance level.
4. When the stock price breaks through the resistance level, it indicates a strong upward trend, while when the price falls below the support level, it indicates a strong downward trend.
Practice Case:
Here, I used weekly candlestick charts to explain: $Global X Nasdaq 100 Covered Call ETF (QYLD.US)$ First, let's look at the charts, and then the explanations will be easier to understand.
It will be easier to understand with the chart first and then the explanations.
A-1 is the previous low point, we can consider it as a support level. You can see that the stock price did not fall below 1 and continued to rise.
B-When the stock price continues to rise to the new high of 3 and then falls, we can consider 3 as a resistance level.
C-After the stock price reaches the resistance level and falls back to 2 to retest the previous support level of 1.
D-When the stock price breaks through the resistance level, it means that the trend of continued upward movement is very strong. 3 and 6 are the resistance levels, and you can see that the stock price continues to rise after breaking through the resistance level.
When the stock price breaks through the resistance level and continues to rise to another high point 4, the new high point becomes the new resistance level...
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This month is basically the same as last month. The market is in constant turmoil, so I will try my best to clear profitable stocks. Although the market rebounded at the end of the month, it may still take some time to clear losing stocks. I only bought $Global X Nasdaq 100 Covered Call ETF (QYLD.US)$ , every month it gives me dividends.
Transaction record
I created my paper trading portfolio this month and plan to invest according to this portfolio's trading strategy in the future.
$放长线钓大鱼$
Transaction record
I created my paper trading portfolio this month and plan to invest according to this portfolio's trading strategy in the future.
$放长线钓大鱼$
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Former President Donald Trump responded to the news that $Tesla (TSLA.US)$ CEO Elon Musk's planned $Twitter (Delisted) (TWTR.US)$ buyout is temporarily on hold.
"There is no way Elon Musk is going to buy Twitter at such a ridiculous price, especially since realizing it is a company largely based on BOTS or Spam Accounts," Trump posted on his social media platform, Truth Social.
"Fake anyone?" Trump posted, Mashable reports. "...
"There is no way Elon Musk is going to buy Twitter at such a ridiculous price, especially since realizing it is a company largely based on BOTS or Spam Accounts," Trump posted on his social media platform, Truth Social.
"Fake anyone?" Trump posted, Mashable reports. "...
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$Direxion Daily Regional Banks Bull 3X Shares ETF (DPST.US)$ 这么好的票子怎么都没评论的,上看53左右
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$Global X Nasdaq 100 Covered Call ETF (QYLD.US)$
Does non-US residents get 30% tax on the monthly dividend? Will the 30% tax be return later?
Does non-US residents get 30% tax on the monthly dividend? Will the 30% tax be return later?
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$Futu Holdings Ltd (FUTU.US)$ hopefully 111 for tonight
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