Support/resistance levels. How do I identify them? - page 6
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Is volume the standard MT indicator?
The price is not driven by petty traders, the price is controlled by supply and demand of market participants who convert money into money and use that money to buy or sell commodities, raw materials... If you think otherwise, then you are free to do so.
Forget about this nonsense, those days are over. Remember the ruble collapse. This is a political decision. It does not happen that suddenly everyone does not need the ruble. Trump's chatter also affects price changes, information dumping, and simple manipulation. Demand and supply already have much less impact on the market.
Saying that price is driven by supply and demand is like saying there is demand for chips in a casino at the time of a promotional campaign. The desire to dilute other market participants is not supply and demand.
Forget that nonsense, those days are over. Remember the collapse of the ruble. It was a political decision. It doesn't happen that suddenly everyone doesn't want the rouble. Trump's chatter also affects price changes, information dumping, and simple manipulation. Demand and supply already have much less impact on the market.
Saying that price is driven by supply and demand is like saying there is a demand for chips in a casino at the time of a promotional campaign. The desire to dilute other market participants is not supply and demand.
So when some speculator listened to Trump's "chatter" and sold euros and bought dollars, that is not supply of euros and demand for dollars?
Or if someone decides to "dilute" the market and starts buying gold, is that not a demand for gold?
So when some speculator listens to Trump's "chatter" and sells euros and buys dollars, it is not a supply of euros and a demand for dollars?
Or if someone decided to "dilute" the market and started buying gold, is that not a demand for gold?
This suggests that supply and demand are policy-dependent.
This suggests that supply and demand are influenced by politics.
Supply and demand can be influenced by politics, economics, epidemiology, phases of the lunar and solar cycle and millions of other factors.
But it is still demand, supply and the law of supply/demand that shapes market prices
Demand and supply may be influenced by politics, economics, epidemiology, phases of the lunar and solar cycles and millions of other factors.
But it is still demand, supply and the law of supply/demand that shapes market prices
I agree.
It's an interesting topic, but so far none of the commenters have come close to the truth. The problem is that to know how to see support and resistance levels, you have to create them yourself with your volume. And then you will see. In the meantime, I doubt that there are traders who can influence the price in any way. For instance, the traders who have got a clear view of the market... If they do not have any doubts about the price, their level cannot be influenced by the market. Is spring having that effect or what?
I don't understand this heresy!...
For example: on the chart of the popular EUR/Dollar pair, there are several time sections where the price moves ONLY in one direction for two years at a time...
Let's say there are sellers..., but where do you get so many stupid buyers to keep the price going in the same direction for so long...?
Usually there is one buyer, and a very clever and calculating one.
Now that's interesting. Inet teaches that only lines can have a specific value. Therefore, a price line is a sloping (trend) line that gives one specific value at each particular time interval (candlestick).
And a level is an undefined price range where the action takes place (rebound, breakout, consolidation).
Complete mush in the head. A level (support/resistance) is a horizontal line on a chart that has some properties. If the properties are of interest, you can continue the discussion.