Actionforex.com pivots are nice for the lazy 
best sites for support and resistence levels
- Thread starter fred1
- Start date
this one gets my vote as well. Been looking for something like this for stocks for a while.
I find that just throwing random lines up on the screen perform just as well as any other support/ resistance.
if you guys are thinking Support & Resistances are anything other than former highs and lows (as opposed to 61.8% retracements, or "pivot" formulas or Ikoomoochoo's cloud) then you are so far out of your league you should stop trading now.
I worked in retail for many years and used to cringe when I'd hear a new customer explain their system for trading the 21-day moving average with stochastics, on their newly funded $5k account.
Sometimes it pays to learn to be "stupid" [by stupid, I mean simple].
There are no good websites.
Except maybe...
WIKIPEDIA: Support & Resistance. That will show you all you need to know.
Good luck,
CTA
I worked in retail for many years and used to cringe when I'd hear a new customer explain their system for trading the 21-day moving average with stochastics, on their newly funded $5k account.
Sometimes it pays to learn to be "stupid" [by stupid, I mean simple].
There are no good websites.
Except maybe...
WIKIPEDIA: Support & Resistance. That will show you all you need to know.
Good luck,
CTA
that's a pretty dumb statement.
old highs and lows are NOT the only SR levels that exist...
I think what he was saying is that too many newbies and "Pros" over complicate their trading strategy, not realizing that no matter what they do, those lines and pivots and other contraptions cannot predict price movement in the future.
My personal view. Support and Resistance should be just that, Support and Resistance.
Meaning... Support lines should provide support to a trading decision to fo LONG on a stock and Resistance lines should provide resistance to a trading decision NOT to go long on a stock.
( Sorry, I don't short. )