FetteredChinos
Veteren member
- Messages
- 3,897
- Likes
- 40
they ARE support and resistance levels.
FetteredChinos
Veteren member
- Messages
- 3,897
- Likes
- 40
yes, a given.
the fact they were highs/lows implies the price hit a level and reversed from it.
isnt that a basic definition of support and resistance?
as you say, if we are already above yesterdays high, we may well have a case of previous resistance becoming support etc.
the fact they were highs/lows implies the price hit a level and reversed from it.
isnt that a basic definition of support and resistance?
as you say, if we are already above yesterdays high, we may well have a case of previous resistance becoming support etc.
high and low - upretend and downtrend - resistance and support.. When the market moves up and then pulls back, the highest point reached before it pulled back is now resistance. As the market continues up again, the lowest point reached before it started back is now support.
fibonelli
Experienced member
- Messages
- 1,338
- Likes
- 288
The previous days high and low are used as pivot points and fibonacci number derived pivot points.
Using Pivot Points for Predictions
re Pivot Points
Pfatdaddys Website
re Fibonacci Pivot Points
Using Pivot Points for Predictions
re Pivot Points
Pfatdaddys Website
re Fibonacci Pivot Points