/biz/ - Business & Finance

>>1844414
thats not the type of support/resistance i was referring to. i was referring to the ones that you can draw a horizontal line on, which commonly occurs. see picture

but the sloped ones you're talking about, just draw a straight line and they'll often line up. you can buy one price or multiple prices hitting the trend then just sell all when it stops doing that. another valid strategy, but this is not good to chase. you have to anticipate it happening before it happens. by the time the trend is obvious, it will stop. its often created by hedge fund algorithms which moves up a large buy order periodically to support a uptrend. when it realizes people realize the trend, it puts less effort into it or just sells off a huge chunk. its a reverse psychology game