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 ?
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 ?
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.]
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.]
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