Daytrade with Support and Resistance.

Discussion in 'Technical Analysis' started by jamit_05, Dec 2, 2005.

  1. jamit_05

    jamit_05 Well-Known Member

    Joined:
    Nov 11, 2005
    Messages:
    6,177
    Likes Received:
    7,746
    Trophy Points:
    113
    Hello,
    For all the newbies here. Quite clearly, Support and Resistance levels (SnR) that any site gives you cannot be accurate to the dot. Due to the inaccuracy of SnRs, newbies must be pulling their hair trying to accomodate them into their trading, especially intraday fellas. I have come-up with several ways to tackle this, but one works miraculously in intraday. Our first and foremost concern at any time is to deceide the trend, especially when price is near SnR. We look at the 10 min chart tick listing. If any bar closes below the DLNs posted S/R, then we conclude the crossover of the same and enter accordingly.
    To the new guys I strongly recommend trading ONLY at the SnRs. Do not venture into the wild.

    Any remarks will be appreciated, ATTN: Traderji.

    PS: I have also posted this at DLN and am receiving good response through emails. I hope this helps here too.
     
  2. Mohan

    Mohan Member

    Joined:
    Aug 5, 2004
    Messages:
    114
    Likes Received:
    23
    Trophy Points:
    18
    Thanks for your comments. Looking forward to read more about your special support and resistant levels that will work for daytraders.
     
  3. sudoku1

    sudoku1 Well-Known Member

    Joined:
    Oct 23, 2007
    Messages:
    10,898
    Likes Received:
    17,351
    Trophy Points:
    113
    http://www.traderji.com/futures/76650-nifty-50-_bulls-50.html#post820154
     
  4. TraderRavi

    TraderRavi Well-Known Member

    Joined:
    Jan 29, 2010
    Messages:
    16,396
    Likes Received:
    36,028
    Trophy Points:
    113
    Location:
    Mount Everest
  5. tobitupan

    tobitupan New Member

    Joined:
    Jun 17, 2013
    Messages:
    2
    Likes Received:
    0
    Trophy Points:
    1
    what is snrs please guid
     
  6. TraderRavi

    TraderRavi Well-Known Member

    Joined:
    Jan 29, 2010
    Messages:
    16,396
    Likes Received:
    36,028
    Trophy Points:
    113
    Location:
    Mount Everest
    Support and Resistance
     

Share This Page