DislikedIt's everything and nothing fibs, pivots, trend lines, tea leaves, sma, daily/weekly/monthly close, mofu, dofu/1000s of different candle patterns... which came first? the chicken or the egg? it's a circular argument based largely on the collective psyche of hundreds of thousands of individuals and hft machinesIgnored
The point I am trying to make to IMARICH rather than preaching if this or that or the other xxxxx tool is better is that he must be able to exactly define how he call his S/R whatever definition, it has to be measurable, repeatable and clearly extendable to any chart ...
Saying yes sometimes is high and sometime is low and sometime a wick is good and sometime is not and sometimes etc wont cut it ...
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The following post are a hack of copyright material that is long gone on the cemetery of forgotten data in the internet. Sadly most of the content and images are gone but the 10 absolutely key basic principles are still there ... so will try to add the images and fill the blanks ...
From the Gourmet Trader .... TBC
sisse
Pending conversations? PM for a chat...I am mainly in OTM now