The power is difficult is deciding where exactly is a key horizontal resistance, do you realize?
Because it can either be here, here or it could even be here.
So this entire range has a lot of resistance in between.

It could all turn out to be important resistance, which will make it the more harder, right? For the price to actually see any significant upside, because whenever it comes to any of this resistance, the shorter term traders may start to take profit or try to liquidate or take out and which will cause more resistance going higher.

So one thing you’ve got to understand is that at a certain area where there are a lot of very pretty clear previous resistance, then the more difficult it is to overcome because there will be a lot of people at this different resistance looking to sell and take profit.

So it’s going to be tough, which means that anytime, anywhere along here are resistance, which means that even if you look at getting in right now, or maybe you’re getting in over here, do you realize that it’s very hard to clear over here? The only time where the resistance will start, the key resistance will start to disappear is after it clears about two one five region. After it clears to one five, then the next clear one will probably be somewhere around here, or maybe even around here. So this is frankly, if you asked me a very, very difficult stock to trade.

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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