Drawing better resistance lines

F

fantastic4

This video just really made a big impact on me. You ever experience that? Something small you see, and then you say, wow that just made me a better trader. I don't know if it'll be that important to you but drawing better trend/support/resistance lines is one area I still need a lot of improvement.

This is an old trade on BIDU and the trader mentions why he drew his resistance line where he did, and not where I personally would have drawn it. Funny thing is , I looked back on an historic chart and a few week later price smacked its head on his line, and didn't get any where near where mine would have been.

Man, have I pumped this up yet enough?

http://www.youtube.com/watch?v=utrKA2kzAMo
 
gaps are zones not specific lines. the upper line of this zone was valid as a resistance too. Just because once price did not hit the upper line and only the lower line doesnt mean the upper line isnt a valid resistance.
 
Quote from college_trad3r:

gaps are zones not specific lines. the upper line of this zone was valid as a resistance too. Just because once price did not hit the upper line and only the lower line doesnt mean the upper line isnt a valid resistance.
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What do you mean by 'zone?
 
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