Quote from jack hershey:
there is a convention in the financial industry to refer to the vaulue (price upper or lower limit with Support and Resistance. they have many definitions usually related to the approach of the finanxial effort going on.
As you see these are vertical delineations and have an up/down focus.
In my shorthand, I presumed that R and S were most common abreviations for what is part of the common conversation of information providers.
Both R and S are commonly regarded as horizontal kinds of values and they are not thought of as interactive with price, until an vent occurs where usually just an historical statement is made about what happened and what the current speculative consensus is regarding the near term future.
Please reread my post a few time to take in its "context" which does relate closely to the market concensus as a way of acting as a parasite of the market Herd and its decision makers.
Traders who are not part of the herd and who are parasitic to it have untold advantages to make money. As Art says, oh for the good old days of this simplistic orientation of the financial industry. A trader just cannot be satisfied with residing their and dong the CW of the financial indutry.
