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Re: Beans...Trades/Doc/Trades
In Response To: Re: Beans...Trades/Doc ()

Hi Trades,

Boy, you have me going now. You have me "trained" in the way you draw support/resistance trend lines !!!

I'll have to look at a bunch of your past charts and see what my eyes tell me.

I think what is being said is:
If you start from a "recent" low point and draw the upward angled 45 deg. line - that that is the only "valid" support going forward. Any other dips/reversals are just "local/short term bottoms" of the "trading noise".

Only when the 45 deg. line is touched would you treat it as price bouncing off support, or breaking down if it crosses below.

I hope I stated things correctly. If so, it seems pretty "rigid" to me.

Thanks, Lee
When you load a forum page to look at a post does it load quickly/as usual ?? I'm getting timeouts loading and possibly my DSL is screwed up.

Messages In This Thread

Re: Beans...Trades/Doc/Trades