I like your chart you posted. I am just about to ask Trade2win what anyone thought of ADVFN UK Platinum package with Advanced Level 2, as I have opened my IB account but it is doing my head in trying to find the right package with streaming charts for FTSE cash and futures,volume,RSI and a function where I can input pivots.
do you resistance lines ?
nobody seems to have mentioned them but maybe that's because its a name I have coined for a particular trading aid.
the following chart shows wht I mean. The line is drawn starting from some significant low up through the first time a high occurs.
so starting from 'support' it has turned into 'resistance'. But the index did not give up and is now climbing to ?
there is a strong possibility it will continue to climb until it is hit again. And also note there is now clear sky up to 4100.
I have just noticed there are 2 lines on the chart. The resistance line is the one starting at 3928. Ignore the other one, thats doing something entirely different