Don't forget guys that there are different types of s/r levels or zones.
Some involve plotting them before the open and others involve their development based upon current market info after the open while others involve both.
Some involve mathmatical equations while others involve volume analysis while others involve candlestick analysis while others involve volatility analysis and while another involves wide range bodies (WRB) analysis (my preference) while others involve any combo of what I've mentioned above.
In addition, support and resistance analysis is not a strategy all by itself and will give us tons of difficulties if we approach it as such (a strategy all by itself).
Instead, s/r analysis involves many variables and these variables must be discussed, studied, learned as you are learning s/r analysis as a whole.
Further, because of all those variables I think one of the best approaches to applying s/r analysis is to already have a strategy (entry rules, exit rules, money management rules et cetera) and then use s/r analysis as a confirmation tool to your strategy.
Simple example...lets pretend you have a method that involves breakouts or breakdowns from triangle patterns.
You could only take such trades if such occurs at a s/r level or zone.
Here's an analogy...pretend s/r analysis is like a track n field meet.
You can't possibly learn and perform in every single event.
Best to select one or a few events and master it so that your not walking away feeling lost.
Therefore, instead of making general remarks about Track n Field...
Might be more useful to talk about a specific event that your performing in that Track n Field meet.
Last of all, if you guys want to discuss discussions of what's occurring over at T2W...
I'm sure Baron would appreciate you guys discuss such over there or via pm only.
Mark
(a.k.a. NihabaAshi Japanese Candlestick term
Some involve plotting them before the open and others involve their development based upon current market info after the open while others involve both.
Some involve mathmatical equations while others involve volume analysis while others involve candlestick analysis while others involve volatility analysis and while another involves wide range bodies (WRB) analysis (my preference) while others involve any combo of what I've mentioned above.
In addition, support and resistance analysis is not a strategy all by itself and will give us tons of difficulties if we approach it as such (a strategy all by itself).
Instead, s/r analysis involves many variables and these variables must be discussed, studied, learned as you are learning s/r analysis as a whole.
Further, because of all those variables I think one of the best approaches to applying s/r analysis is to already have a strategy (entry rules, exit rules, money management rules et cetera) and then use s/r analysis as a confirmation tool to your strategy.
Simple example...lets pretend you have a method that involves breakouts or breakdowns from triangle patterns.
You could only take such trades if such occurs at a s/r level or zone.
Here's an analogy...pretend s/r analysis is like a track n field meet.
You can't possibly learn and perform in every single event.
Best to select one or a few events and master it so that your not walking away feeling lost.
Therefore, instead of making general remarks about Track n Field...
Might be more useful to talk about a specific event that your performing in that Track n Field meet.
Last of all, if you guys want to discuss discussions of what's occurring over at T2W...
I'm sure Baron would appreciate you guys discuss such over there or via pm only.
Mark
(a.k.a. NihabaAshi Japanese Candlestick term