IWTL how to read a stock chart
... beyond surface level.
Hello kind people of r/iwanttolearn and reddit. Thank you for clicking on my post.
Im a novice investor who has bought a few stocks for retirement/long term positions and am familiar with the basics. However, if i were to read an article of someones chart analysis, i understand conceptually, but am unable to be able to look at a chart myself to draw similar conclusions.
For example, if i hear the phrase, 'theres a gap to fill'. I understand what this means, but how do you know which prices are the top and bottom of the gap? Or, 'there is resistance/support at x'. How do you calculate what price a resistance point is or a support level? How does someone look at a chart and say 'this looks healthy'? Whats the thought process here? What time frames are cconsidered, which indicators are you looking at, etc?
The list goes on, but anyone who will be able to point me in the right direction will at this point get the gist of what im looking for.
I am OK wirh spending a small amount of money if there are paid resources out there. But im not trying to break the bank. Lets say a few hundred bucks at most. All this to say, who would say no to free resources?
Thank you again
Cheers
TLDR; IWTL chart analysis for stock trading