Directions for taping are at the bottom of the linked page http://www.usgyms.net/Sprained_ankles.htm

Occasionally, a sprain will feel worse and be more swollen 48 hours after injury than it is at 24 hours after, especially if you have been up and around too much. Sounds like you have been doing all the right things so far, so good luck with it!

 

Clinically, i assume you are talking about just a strain and not a sprain. A strain might or might not keep you out depending on the degree. A sprain is an actualy tear of the ligament, which from your observations, is not what you have. I assume it is your lateral ligament that covers your lateral mallelous because that is the most common ligament injured of the ankle.
The correct way to aid in the recovery would be to ice for the first 24-36 hours to minimize swelling and then do 20 minutes of ice, 20 minutes of heat, 20 minutes rest. If you are able to play you won't be at 100 % probably 75% at best. just my opinion