Excercise4
- This topic has 1 reply, 2 voices, and was last updated 8 years, 4 months ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
Good afternoon,
Please see below horizontal lines for support and resistance.
Black lines are resistance Blue lines are support.
Think I have them in the right place. Can see where the swings are, just got to remember where to put the line.
(top,middle,bottom)
Hi Chris, your lines look good. One thing you might find helpful is to try and imagine how that distribution of volume lies (remember the bell-curve example we used in the lesson?). If you’re looking for a resistance level you’d want the line to sit just below the bulk of the volume (you can use the bottom of candlestick real-bodies, or the midpoint when you get long ones). Vice-versa for support: you’d want your line to sit just above the bulk of the volume (top of candle real bodies).
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.