S and R are one of the most fundamentally sound indicators you can use. They 'work' because everyone trading that stock sees the same area and tend to think the same. The key is to buy during the swing up back to the resistance area to get in before a potential breakout and not buy at the 'top'. Or after the R break on a pullback. Opposite for shorting. I draw my trendlines in blue for daily resistance and white on the intraday chart. Helps me see what trendline is from what timeframe.

@Palmer Is multi month support/resistance more important than daily resistance or should I be doing a mix of both?

I would definitely check both. The longer term the resistance the more powerful (stronger) the breakout can be = buy or the more stubborn the price action can be = sell. Longer term (monthly) support and resistance is critical. Think of support and resistance as 'areas' of price action and not exact price. In other words,

if there is intraday or even montly resistance of a given stock say at 4.35...give some +/- on both sides of 4.35.

Dude that's awesome, keep up the good work!!!

congrats!

Losing > $100 K. When short a company, your broker might do a buy in. Basically you are shorting shares that somebody else has long. This 'person' borrows you their long positions, for you to sell short. When this 'person' decides to sell their position, then you are literally forced to first buy back to cover you shorts and give them back to that person. This is when you broker has to cover your position for you, and theres nothing you can do about it

Thank You both iI am VERY impatient lol. I'll stick to buying breakouts first and then move on from there. @Legendario @Doncematic

@Legendario @Doncematic Why is it that the level two is spot on but the chart patterns aren't.

I noticed today, the Level 2 far exceeded the chart action (which has a 20 min delay).

Dude i know how you feel i lost $100 yesterday trading a chart pattern i KNOW shouldn't have. AMRS i was looking for 10% but i missed my buy in at .63 bought in anyway lol at .69 and sold at .63.

I recommend reading the premarket action. most of the times when the price action is fading before the bell rings, the stock is most likely to sell off. Keep in mind that the overall chart is a massive sell off. so what ever chance that the bag holders get to have, they will sell for a minor loss. News may be good but the weight of the sellers long term is greater. you see this all the time. so read the price action before the bell. one more thing. if the price action already had a parabolic mov

all the best.

What brokerage do you use? It's happened to me once and I didn't realize it was my funds weren't settled; i was able to call them and place a trade over the phone, and since it was my first time they allowed it. If you're still stuck in, and it goes lower tomorrow, it's worth a shot giving them a call.. The old fashion way of day trading, calling your brokerage to place the trade. Good luck!

They entered a multi million dollar material definitive agreement today. The last time I saw a deal like this take place was June 1st (OPTT) for CLOSE to 1 mil, just curious to see what it can do tomorrow.

I might reconsider OPTT plummeted the next day...AEHR it is

Thanks for the advice my friend and I most definitely will follow through as planned.

Don't rush it. You'll get there.

@Nathan_casey Thanks and I will

AWESOME!!!

Nice work!

Good trade!