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| Discuss resistance lines doubt at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Greetings friends, Are the resistance lines to be drawn from the day's high or the ... |
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#1
13th November 2006, 07:06 AM
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resistance lines doubt
Greetings friends,
Are the resistance lines to be drawn from the day's high or the day's close ? Similarly, are the support lines to be drawn from the day low or the day's close ? Regards, Vats 
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#2
13th November 2006, 10:23 PM
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Re: resistance lines doubt
Quote:
Vats, Both use the closing price. Cheers Kuldeep
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#3
13th November 2006, 10:32 PM
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Re: resistance lines doubt
Quote:
As far as I've learned, we can use the high also. Even there is no hard and fast rule for S/R. In case of any confusion, we can even go by our eye judgement. [I learnt these from Saint's thread.] Please correct me if I'm wrong. Praveen.
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#4
13th November 2006, 10:36 PM
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Re: resistance lines doubt
Quote:
Praveen, Yes, you are right. I use a line chart which gives me a very good visual perspective. It even works well when one is looking for chart patterns. Thanks for pointing out. Kuldeep 
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#6
14th November 2006, 08:42 PM
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Re: resistance lines doubt
Quote:
As far as I know, taking the close price or high, is up to yourself. I take high. As said earlier in some case the eye judgement will be better. If still not clear, try reading the thread -- "Teach a man to fish..." by Saint. I think it will try to clear the things out. Praveen.
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