resistance lines doubt

vats

New Member
#1
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
 
#3
Vats,
Both use the closing price.
Cheers
Kuldeep
Hai Kuldeep,

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.
 
#4
Hai Kuldeep,

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.

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 :)
 

vats

New Member
#5
But sir, suppose if the difference between the day's high and the close is quite
huge, then in this case ,from where should the lines be drawn ??
 
#6
But sir, suppose if the difference between the day's high and the close is quite
huge, then in this case ,from where should the lines be drawn ??
Hello Vats,

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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