Trading Support and Resistance

I don't like the concept of Pivots.

Maybe they work in the pit (the actually do work there) but I won't use them on stocks.

But still I'm looking for a clear statement:

When to trade sup / res. and when to trade breakouts.

In my opinion in strong trending markets (lets say up) I trade breakouts and support, in sideway - markets I trade sup / res and in down markets breakouts and res.

Maybe someone can confirme me in my opinion.

Regards,
DEM
 
DEM

"But still I'm looking for a clear statement:

When to trade sup / res. and when to trade breakouts."

You don't want much, do you? Nobody can answer that question for you Dem. You got learn the hard way, like everybody else. Sorry.
:(
 
I already know the answer for myself... but I'm always trying to improve myself, too.

Maybe there is an concept, that works better for me... maybe not. But if I don't try I'll never know.

So I'm always looking for new approaches.

DEM
 
wwatson1,

Would you elaborate a little more on the way you trade, the setups you look for, any indicators you use. When you say breakout, do you mean a breakout at support or resistance on high volume? My trading appears to be similar to the way you trade.
 
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