I really want to revisit this topic because while it is the most simple and basic concept in technical analysis, many traders have no clear idea what they are and how to use them. There is this one trader I know that has them backwards all together. He calls support resistance and resistance support. While…
Tag: Support & Resistance
KEWLTECH: Issue 028 – Consolidation
Hey its been a while, I took a little break and starting to get back into the game again. Anyways, MentalMidget and I were chittychatting and we were talking about charts and some stuff we hear every time. One of the most ambiguous words I hate is the word “consolidation”. You hear it all the…
KEWLTECH: Issue 008 – Support & Resistance
Support & ResistanceStockCharts.com Definition Support and resistance represent key junctures where the forces of supply and demand meet. In the financial markets, prices are driven by excessive supply (down) and demand (up). Supply is synonymous with bearish, bears and selling. Demand is synonymous with bullish, bulls and buying. These terms are used interchangeably throughout this…