support and resistance is very important when it comes to day trading and using charts in order to make educated decisions for day trading now the question is what is support and what is resistance support is wherever price is held up right so when we look at our chart here you can see that price is kind of holding it's bouncing at this level over and over again what is resistance resistance is where price is having a hard time getting through you can see price reject here goes up and rejects again one important thing to note is that support becomes resistance when it's broken through and resistance becomes support when broken through so resistance here we got above it and so then it became support so now with the current example of the nasdaq right now price is sitting at 12 200. we've bounced off it four times in fact right now it's trying to break through if we break through we might look for a retest of support and then the move up into resistance so there you have it that's a very quick and easy way to understand and how to trade support and resistance

So we're looking at the WIC test today what we're looking for is a strong move up which we just had and then we want to come down and test that prior high I'll go ahead and just put a long on that Wick now this works both ways on bothLongs and shorts and it's normally good for a handful of points on the wick test I only really want to see it pull back about 50 of the candle at most and we'll look and see if we can get a bounce out of it so we are filled long right nowOff of 0975 which is again the prior Wick and you can see we're just starting to kind of Bounce out of it I'm gonna go and take off that tray for 230 dollars and just like that that was a very quick trade for 230 bucks using the wick testPrinciple again one of my very favorite day trading strategies