December 10: When Support becomes Resistance

Today’s video update is price action 101.

• How to identify conditions that are unlikely to provide good directional trade opportunities.
• How to identify a sideways consolidating market intraday and avoid getting caught in the chop.
• What happens when support becomes resistance and how you can trade this information profitably with our old favourite; the 3X setup.
• Example of how to use support and resistance levels as targets in your own trading.
• The difference between Volume bars and Tick bars and which ones Rick prefers.

Understanding price action and the current market state is vital to your long term success as a consistently profitable trader. Knowing when to trade and when not to trade can often mean the difference between making money and losing money.

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