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Anandita Jain
@jain_anandita
Building WeekendInvesting | Busy Burning Toasts 🍞
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Nov 8, 2024
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7 tweets
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2 min read
In 2018, I used to watch @WeekendInvestng 's charts and think, "How does he always know which lines to draw where?"
It looked simple. But I quickly realized that it was only because the right indicators and trend lines were already in place.
Then I opened a fresh chart on TradingView,
... and ummm I didn't know where to begin 😅
It was overwhelming at first. But over time, I figured out a few things that helped turn my confusion into clarity.
Here are the 5 things I started doing: 🧵
1/
Lets start simple - Support & Resistance
Where does the price seem to reverse or stall over and over again?
- Support is the level where the price tends to find a "floor" and doesn't go below.
- Resistance is the level where the price faces a "ceiling" and can't break above easily.
Start by drawing horizontal lines where prices are often hitting the same spot and stopping at these levels.
You’ll be surprised at how often price reacts to these levels.