It was back in August when DRIV’s decline stopped at that support level; still an insignificant level. Note: Obviously if you had traded short in October, expecting the stock price to respect the resistance level, you would have lost. Again, the more often stock price confirms the trend line, the more significant that trend line becomes.
Jim entered the financial world by trading sports and now invests in US stock markets and forex, trying to buy low and sell high. Binary options trading, at first glance, sounds like a relatively simple form of alternative investment online.
TradingView allows reposting trading ideas to StockTwits, the Twitter-like platform of financials. If the stock is trading into uncharted territory, draw Fibonacci extensions between bottoms and tops like I showed at the Twitter stock chart. When the stock price pulled back once again in December, the candlestick’s long wick showed that selling power was simply exhausted.
We’ll talk in the future how we go back and forth between different time frames to pinpoint our entry points.
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