 Hey guys, this is Hydra from Xtrades and today I'm gonna be making a video about basic technical analysis So I'm gonna be going over support resistance and trend lines in this video and this is a pretty I would say this is pretty basic. So this is mostly intended for beginners, but Advanced traders can also use this as well. So yeah, first I'll just go over a couple of charts and then I'll just You go go through the basics. So support is basically Any place where price tends to bounce basically and resistance is the exact opposite It's any place where price tends to reject or go down. So we'll take a look at this Amazon example. So so this is the weekly chart on Amazon and And I have a few lines drawn out here and I'm gonna next and I'm gonna go through all these lines and what they mean So this will go over this line first. So notice how every single time Amazon comes down to this 144 price it tends to bounce, right? That's the bounce here Comes down again and then bounces, right? So this 144 line is obviously a place where buyers tend to buyers tend to show up and Buy buy the stock, right? So every time we come back come down to 144 buyers step up and push this price back up And then this 171 line So notice every single time we get to this level we tend to reject So this is the first rejection second reaction Third reaction fourth rejection, right? And then the fifth time we actually break out But the breakout doesn't last too long either and then we just chop around for a while. So this Levels are also very important So we reject one two three four times, right? And then the fifth time it's successful when you see multiple rejections and then We were finally able to break out There's a good chance that it could lead to a big move for this case Amazon wasn't able to do that But this is generally Something that you want to look out for and then this one 88 level. So this is also another resistance level So notice we top out at 188 and then we end up chopping around for a little bit and then come back to 188 and reject again so this is obviously another resistance level that we want to take note of and So yeah after that we end up chopping around again and then we just fall back into this range and then we We end up under cutting this 143 level So we actually go below and then we form a hammer. So every time you see this type of Candle, it's a bullish sign. So that means So we undercut this so it created a shakeout candle. So we Yeah, undercut all these are all the support line and then we ended up bouncing From the lowest which is 135 and then we make a pretty big bounce here And then again, we touch this 135 level again, and then we bounce So this 135 level is something to take note of this is also another support level and Then yeah, so 2022 happens right and then we enter the spare market and Amazon completely flushes So when this line breaks that would have been a that would have been a good short play and then you know, we end up We end up making a new support level here around 101 point six five So many weeks we end up going down to this low and then bouncing off. So this is another Key support level that we want to take note of and then we actually bounce all the way back to this Prior support level. So before this used to be support. This this is where price used to bounce and this support level turned into resistance. So now that we're below this level When we touch it, we actually end up rejecting out because this is a key level. So Yeah, and an important note is to remember that key levels or support levels can turn into resistance Levels and resistance levels can turn into support levels. So Yeah, this previously used to be support here, but now it's it's turned into resistance and now basically Amazon's just been in downtrend and Yeah, the only only key level right now So there's some support over here at 88 and The next the resistance level if Amazon does bounces one oh one point six five. So those are the key levels for Amazon and There is also a trend line here. We can draw So notice every single time Amazon touches this trend line It rejects so until Amazon or so possibly Amazon could be chopping out for a while And then maybe we can see a breakout or we can end up making a third leg lower. So we'll see what happens So now we'll just take a look at another chart for examples So let's take a look at Tesla here I tried to pause this video and try to Try to see if you can spot the support and resistance levels if you can Okay, I'm gonna get started. So Here's a clear support. Alright, you bounce off once bounce off twice And then we tried to bounce here and ended up forming a hammer But now we're just currently chopping around it. So this is a definitely a key level that we want to be looking at Another key level here, right? Many or like yeah for many weeks we're just chopping around this level We were trying to break up But we just failed so this is definitely a key level and we were when we were finally able to break it We had a pretty big move. So um, yeah, that's definitely an important level and then again watch When we reject here again, we tried to we're at this level again, and we're unable to hold this resistance. It's just too strong Another level here So this is another resistance level notice many weeks We're just chopping around chopping around and then we finally break out and this is a good example of a trend line so So this would be a support trend line notice that we're actually flagging here so it's getting tighter and tighter tighter and tighter and then we finally break out and Yeah, that's pretty much it for Tesla. So Let me see if I'm missing any other points I would say I'd say you can draw another support here notice many weeks we were at the support level and then We're actually chopping in between this range though for one two three four five six seven eight nine ten almost ten to eleven weeks We were in this range stuck and then we broke out and then we failed back so Yeah, right now Tesla print analysis next support level is 151 But we'll see if we're able to hold this 185 level. If so, then we could possibly see a pasta 212 and then there's also a pretty major Down-trend forming for Tesla. So So notice every single time we touch this line. We end up projecting so this is a very important trend line that we want to take note of and When this trend line breaks, then we could possibly be entering a new trend But for now, the Tesla is clearly in a downtrend And that's pretty much it for Tesla. Take a look at one more So do any video? Again, you can try pausing the video and try to find the support and resistance level on your own, but Yeah, I'm gonna get started All right, clear support over here right Starts bouncing over here bounces over here then we also bounced just in October September time and then Resistance over here notice many rejections here. Fresh rejection second rejection third and then this time we actually break out and then We form a very nice old flag So yeah, this time we break out But we form a very nice flag and then we end up breaking out of the flag and then we make a really big move So this is this is a a plus setup right here when we break out and then we form a flag This is an important setup and something that you want to Make sure that you know This setup occurs many times I'm sure you can if you look at like a bunch of different charts, you'll see the same setup over and over again So this is a good setup to know. I would say there's another resistance line around here We reject twice here and then a couple more times here See if you can get a trend line here. It's not a clear trend line on and video for in my opinion Maybe you can draw one over here But this one doesn't connect this nicely Usually, I want to get it to like the top of the wicks or at least like the top of the candle her. Yeah, but And there's one so it's an okay trend line You get one touch to touch three touch and then on the fourth one you break out and so and video I would say it's not in a downtrend anymore compared to like Tesla Tesla is still very deep in a downtrend But in video I think has bottomed here Came all the way down to this key support level and we balanced and now we're just Yeah, we're just building and we're just slowly trending up higher and higher, which is good So yeah for Nvidia the next key level is 192. There's no real support or resistance to that point and We want to make sure that we're holding on to this 146 level and yeah, that's pretty much it for Nvidia and Do one more actually So Netflix is a good one so Netflix. There's no trend lines actually there could be but so first clear resistance here, right? There's tons of rejections here on the weekly chart And then we finally break out and then again we make a pretty nice bull flag So similar to Nvidia we break out make a bull flag and continue up higher Then friend video. Here's the support line one two three four five five touches there Let's see I'd say there's also Also some prior support here And I would say this matches up with this level So this level was actually resistance before because it was rejecting around that area before and then we were finally able to break out And then every time we came back this previous resistance line turned into a support I'd say there was some support here One touch to to just trying to bounce here, and then we finally flushed hard I think this was because of earnings report, but yeah, we flushed hard and now we're Trying to build their way back up Take a stick a look on the daily chart. So Let me adjust this line a little With the bottom so yeah clear support here right bounce bouncing that earnings drop and then let me So this is a very this this is a very key level for Netflix to 47 So this is where we first gap down and then multiple rejections here multiple rejections here And then we finally break out and then we um, you know, we break out we come back test this to 48 level And then we bounce again So yeah right now I would say Netflix is doing pretty well here compared to most dogs like Amazon's clearly down trending but Netflix is actually building higher highs here, and it's actually get trending quite nicely So this is a support trend line every time we touch we bounce. This is a resistance Resistance trend line every time we touch we reject so now Netflix is tightening up here And I'm gonna guess we're gonna get to this 331 level and then we're either gonna reject or break out hard So yeah, that's pretty much it for Netflix But yeah that anyways That's pretty much it for this video Let me know if you guys have any questions and always feel free to DM me if you guys have yeah any questions. Thank you