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RE: What does Support and Resistance really tell you?

in #trading7 years ago

Hey Luc,

I came across your videos last night and I've started going through them. Thanks so much for your help, I'm planning on trying your method soon. I had two quick questions:

  1. When determining your base, what % in price change do you look for to consider something a bounce? Is there a minimum?
  2. You mentioned putting in a purchase order when the price cracks the base, but you also mention that the base is constantly changing. As a person who wants to do this casually (still working my day job) what's a good system to place the purchase orders, but also make sure that they're up to date? It seems like in the video, some of the charts changed within a span of a few hours.

Thanks for the help!