How to draw Support and Resistance Lines – Indicators, Earnings Gap (Day Trading Beginners $ROKU)

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How to draw support and resistance lines for day trading beginners using Thinkorswim platform? In this video I’ll be going over a simple 3 STEP process for drawing support and resistance lines on $ROKU stock. And setting indicators for intraday trading.

πŸ”½Time stamps:
1:24 Importance of volume breakouts on $ROKU
2:48 Drawing out visual daily gaps, earnings gaps
4:38 Adjust support and resistance price levels to touch multiple times in the past
6:03 Setting up EMA indicators in Thinkorswim

Videos mentioned:
How To Find Support And Resistance Levels (Easily) – Forex trading
Best day trading strategies for beginners
How to trade penny stocks for beginners

How to draw support and resistance lines (Technical analysis for beginners ):
1. Start with daily chart (the levels are the strongest).
2. Adjust lines to land on major volume breakouts and breakdowns
3. Draw lines on visual daily gaps
4. Adjust each stock price level to touch at least 3 areas on the chart.
5. Double check the lines on the weekly chart (especially if you were swing trading for more than 2 days)

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