Happy New Year to all
From support to resistance
- Thread starter trader1974
- Start date
Please throw insecticide, I'm tired of flying
Then Maxinger says that supports and resistors are useless ...
it's funny.
the way that the arguments are made is so ridiculous but so wide spread in 'technical analysis 101' books... author shows an indicator, some kind of line, then a chart, supporting its supposedly usefulness, completely ignore the basic fact that in order to prove something works a much bigger sample size is needed.
so people read these books and they present the same way... argue a point, put up a chart, a handful of data points - wala there is your proof..
You must go to the disco
From here to 100 years all bald
Happy New Year
From here to 100 years all bald
Happy New Year
S/R levels vary according to what time frames you’re modeling. The longer term levels, however, are common and that’s a good thing.
So, your question is incomplete and is highly dependent.
And as has been intimated earlier - S/R gets invalidated by markets all the time.
Guess what would have happened if you shorted Weekly and Monthly resistance levels the past eleven years ?
So, your question is incomplete and is highly dependent.
And as has been intimated earlier - S/R gets invalidated by markets all the time.
Guess what would have happened if you shorted Weekly and Monthly resistance levels the past eleven years ?
What would be a better strategy?
Maybe selling options, become an insurance salesman playing both sides against the middle.
Study statistics and probability.