Support and Resistance Gurus

Never leave HOME without your 200-pd ema monster S U P P O R T. Its the only thing I know that can slap an American Express Plutonium card silly


Ditto for the 200-pd acting as R E S I S T A N C E ............... to get above it you need a minimum FICO score of 810 :):D
 
Some additional suggestions humbly given to my friends here ...................

Channels are super important for Support/Resistance. Prices tend to move in channels.

SPX example on monthly. As sure as nite follows day SPX is sooner than later going to the lower channel line.

When she does get there, pls look up skyward and think of me, the one one everyone loves to hate. :)

In this case I had to wait several months to draw this channel. Then when Corona virus hit, voila it gave me the lower channel line. Quickly, quickly quickly I drew the center line dashed. Why? Because Price goes to it like a magnet. SPX did exactly that. This is where we stsnd today.

After rally or whatever, eventually SPX is going to the lower channel line



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Just from 2 anchor points (the 2 diamonds) you can derive Price parallel lines that you will be shocked how Price loves them.

See for yourselves. Play around with it. Its a mere easy drawing skill, no genius reqd., but the rewards are great because Price is a channel lover

You don't need a Red Indian tracker to figure out where Price is going. No scent reqd. either, no droppings or pug marks either.

Just draw a channel and at every correction draw a parallel to the parallel and extend. Price is in there doing his thing.

HE, God Bless Him, is a lover of channels



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In line with thread title, all channels are Support/Resistance. A bit more advanced S/R than the regular horizontal support/Resistance Lines that we all start out with when we are newbies.

Newbies are the SALT of The EARTH in Finance. They are akin to my brothers and sisters in the Midwestern United States.
 
Trendline supports and profit taking and exit the Long Trade on monthly for INVESTORS like me. I do exactly like this for Investing

Exit at the white arrows when Trendline breaks. Use Log scale charts


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margin_gamble said:
Trendline supports and profit taking and exit the Long Trade on monthly for INVESTORS like me. I do exactly like this for Investing

Exit at the white arrows when Trendline breaks. Use Log scale charts


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That requires tens of millions of dollars. Put up or shut up time. Gonna' post the journal you have been promising forever? I know you cannot see this post, because you say you have me on /ignore. But somehow you will see it, and claim I am the reason you see it. *shrugs*
 
Overnight said:
That requires tens of millions of dollars. Put up or shut up time. Gonna' post the journal you have been promising forever? I know you cannot see this post, because you say you have me on /ignore. But somehow you will see it, and claim I am the reason you see it. *shrugs*
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Shhhh.... please.
 
For tomorrow's trading guideline with Trendlines only, nothing else, utter simplicity itself and will keep your charts unclogged and free of debris

SPX for Friday, 9/23/2022 ................

don't give a rat's ass about what anyone says with their hocus-pocus theories. The is only one way for Price to rally and that is thru' my trendline as shown by the arrows. Price willnot crawl up the large intestine or go thru' one's ear. He is too noble for that. He will just bust right thru' the trendline if tht is where he is going.

To sharpen your entries and exits on each leg of the daily chart you can also use or combine iwth a 60-min. timeframe SPX and do exactly the same ditto procedure. Trendlines only.



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