/biz/ - Business & Finance

>>57336649
They’re not validated so much as they’re observed by buyers and sellers. There are bibles worth of data on trading psychology but I don’t have time for those.

basically it is a perceived area of greater resistance or support depending on the stocks movement. Keep in mind that price doesn’t move it aggregates. As this aggregation takes place buyers/sellers step in at these lines. Often times sellers and buyers lines’ meet in opposing vectors. These are “areas of confluence” and I often see volatile movements when two TLS MEET.

Why ? I don’t know and don’t believe anyone could cite to you why it exactly happens but trend lines happen in every chart. Basically those lines are representing someone’s activity (buying or selling) if an entity’s action are perceivable on the chart then I should at least take heed of the area.

Those lines can mean something during the early part of the day and then they may be ignored or the price blitz past the area.

Basically you are banking on some sort of price action at these areas. You place calls when it looks like we’ve bounced ( I use 3m for small intraday, 15m for larger 1-5dtes and the larger time frames for swings. Sorry if the reply is typed poorly started it at work and finished at home.

Most importantly don’t ever take someone’s word and make a play with that. Many of us don’t know what we don’t know.

>>56386358
We need to conserve some of this range so we can play market tomorrow. Crab on, return to normal dump at close, engage back to shalomarket at 930 tomorrow am broseph