posted
I'd like to learn more about finding support and resistance points. I know that looking at the chart can show you where they were in the past and broken resistance/support becomes support/resistance, but sometimes a running or crashing pinky enters new territory where the chart isn't so clear.
Does anyone here know a good book or website that teaches how to find resistance points? I'm particularly interested in fibonacci retracements, but mostly because they have an impressive name.
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also, i hate to toot my own horn, but check out stock monkey
it's a bunch of hacks thrown together that auto-calculate support and resistance levels for nasdaq/nyse/amex/otc/pinks .. the site is usually up between 10am and midnight PST.
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quote:Originally posted by kermit42: I'd like to learn more about finding support and resistance points. I know that looking at the chart can show you where they were in the past and broken resistance/support becomes support/resistance, but sometimes a running or crashing pinky enters new territory where the chart isn't so clear.
Does anyone here know a good book or website that teaches how to find resistance points? I'm particularly interested in fibonacci retracements, but mostly because they have an impressive name.
One thing about trading is you should KISS (Keep It Simple Silly)... do not use fibonacci just because the name intrigues you... or because you read it in the Da Vinci Code lol ... there are alot of books out there for it anyways but before you decide on Fibonacci i suggest you read this book first:
A Beginner's Guide to Short - Term Trading by Toni Turner www.toniturner.com
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Tex: I don't see how that link helps--do you have a subscription that inclues resistance lines (that drop out when I click my unsubscribed mouse on it)?
fourseven: That looks like an excellent site!
Machiavelli: I have that book. I'll review the resistance/support section again.
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"Tex: I don't see how that link helps--do you have a subscription that inclues resistance lines (that drop out when I click my unsubscribed mouse on it)?"
Sorry--lol, I wondered why fourseven mentioned stockcharts following my post...meant to link directly to stockchart's discussion of support and resistance. Good catch...
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