My firm has alerts software that specializes in spotting these levels in real-time. PM me if you are interested in checking it out.
Support and Resistance Levels
- Thread starter libertad
- Start date
My firm has alerts software that specializes in spotting these levels in real-time. PM me if you are interested in checking it out.
dbphoenix
Elite Member
Registered: Sep 2002
Posts: 4250
04-16-04 01:33 PM
The MA is generally irrelevant unless it coincides with price S/R. As you say, it's concentrated price levels, either by volume or by time or by effort or any combination thereof. The source of the buying and selling is irrelevant.
As for your "guessed visual" question, I'd have to know your strategy and your tactics. I don't much care about the bid and ask or about T&S.
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The thinking with regards to the concentrated price levels is that there is always a reason that demand or supply happens....
For example....you pull up a daily chart ....you look at the concentrated price levels....and you think about this scenario...
Stock float: 200,000,000
Price accumulation levels: 10% lower...visual support
Negative news: price declines 10% to same level in am...
5x normal daily volume...at the mark
The 5 min stops...at the mark...green kicks in...I'm in...
Price regains 2%...red kicks in...I'm out...
Sound familiar...unfamiliar?..ie...no extremes..no play ?
Elite Member
Registered: Sep 2002
Posts: 4250
04-16-04 01:33 PM
The MA is generally irrelevant unless it coincides with price S/R. As you say, it's concentrated price levels, either by volume or by time or by effort or any combination thereof. The source of the buying and selling is irrelevant.
As for your "guessed visual" question, I'd have to know your strategy and your tactics. I don't much care about the bid and ask or about T&S.
..................................................................................................
The thinking with regards to the concentrated price levels is that there is always a reason that demand or supply happens....
For example....you pull up a daily chart ....you look at the concentrated price levels....and you think about this scenario...
Stock float: 200,000,000
Price accumulation levels: 10% lower...visual support
Negative news: price declines 10% to same level in am...
5x normal daily volume...at the mark
The 5 min stops...at the mark...green kicks in...I'm in...
Price regains 2%...red kicks in...I'm out...
Sound familiar...unfamiliar?..ie...no extremes..no play ?
dbphoenix...thank you for your responses...
To me....the LT chart tells me where the investors like it...when the price moves in extremes...not normal...then the LT players have some thinking to do...In the past they liked it here...why not like it here...again...no fundamentals have changed...
You see the visuals...it's not Friday afternoon...or next to a holiday...If it drops to the next visual...they should like it even more...green starts...you add...when advances to next visual...I'm out...
Sound familiar....no extreme...no play ?
To me....the LT chart tells me where the investors like it...when the price moves in extremes...not normal...then the LT players have some thinking to do...In the past they liked it here...why not like it here...again...no fundamentals have changed...
You see the visuals...it's not Friday afternoon...or next to a holiday...If it drops to the next visual...they should like it even more...green starts...you add...when advances to next visual...I'm out...
Sound familiar....no extreme...no play ?
No offense, but I think that's what most traders call them...the Pivot and its corresponding Support and Resistance levels.
And, as far as they're significance goes, I don't think you give them the weight they deserve.
But, you're right, this discussion doesn't really belong on this thread...
SocalTrader
Senior Member
Registered: Oct 2002
Posts: 329
04-16-04 02:06 PM
Re: Support and Resistance Levels
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Quote from libertad:
What is the best method for calculating support and resistance levels?
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My firm has alerts software that specializes in spotting these levels in real-time. PM me if you are interested in checking it out.
.......................................................................................................
Over what time frames? min.....daily...etc...
Senior Member
Registered: Oct 2002
Posts: 329
04-16-04 02:06 PM
Re: Support and Resistance Levels
--------------------------------------------------------------------------------
Quote from libertad:
What is the best method for calculating support and resistance levels?
--------------------------------------------------------------------------------
My firm has alerts software that specializes in spotting these levels in real-time. PM me if you are interested in checking it out.
.......................................................................................................
Over what time frames? min.....daily...etc...
Yes, that's what most traders call them. That's why I used the word.
As to significance, I give them the weight that is justified by their performance.
And as to the thread, there have been, as I said, two lengthy threads on the subject already. Again, anyone who's interested need only do a Search of Trading using "pivot".