How to use Support and Resistance Effectively - page 7

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ryanklefas
598
ryanklefas  

Hi bubble! (I like your username )

Thanks for being so generous and posting some of your trading secrets. I'm looking forward to whatever else you want to dish out.

wolfe
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wolfe  

Hi Bubble,

Thank you for the lessons, they are written well. I am curious why it is you narrow the time chart up? Does this make the trend easier to spot? Looking forward to your next installment.

RickW00716
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RickW00716  

Thank you!

I just want to thank you for covering what I believe to be the most important aspect of a successful trading plan/strategy...I look forward to future lessons.

I will hold posts/questions until more of this subject matter is uncovered...I just wanted you to know that if there is a lack of posts it is not due to lack of interest.

jackt
82
jackt  

Every day I look at chart but I never notice there are different type of trend. It's eye opening.

Thank-you very much. Hope to see more soon.

jackt

Chrisstoff
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Chrisstoff  

Bubble,

Thank you for sharing your knowledge with us! The start is quite impressive, I follow this thread with great interest.

Regards,

Chrisstoff

Linuxser
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Linuxser  
Files:
gbp.gif 24 kb
Linuxser
5921
Linuxser  
gordon12
67
gordon12  

How do you gauge the strength of you S&R ? I notice small crosses on your charts are these fractals?

I use a multi fractal indicator which allows me to see multi time frame S&R which gives me a better idea of there strength

Gordon

PRADIP RUPARELIA
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PRADIP RUPARELIA  

here is how a pro trades support and resistance

7 entries on cable with stop loss of 20 and total profit of over 100 pips in 1 day

Malcik
158
Malcik  
bubble:
Lets move on to ROLE REVERSAL

""Another principle of technical analysis stipulates that support can turn into resistance and visa versa. Once the price breaks below a support level, the broken support level can turn into resistance. The break of support signals that the forces of supply have overcome the forces of demand. Therefore, if the price returns to this level, there is likely to be an increase in supply, and hence resistance.

The other turn of the coin is resistance turning into support. As the price advances above resistance, it signals changes in supply and demand. The breakout above resistance proves that the forces of demand have overwhelmed the forces of supply. If the price returns to this level, there is likely to be an increase in demand and support will be found.""

"" quote from stockcharts.com"

Role reversal can occur during a trend or at a reversal known as a V bottom. or top.

Hi bubble,

Thanks for starting and updating this thread. Finally, after looong time, another thread about REAL trading appeared. I'm anxiously awating your further contributions

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