Supports and resistances

[Ropewalker]

Rizwaan, I don't think it's a case of adding or subtracting 5%. Darsh maybe right, its on a fibo sequence might be. Like we take a recent close and high, then draw fibo levels of 23.6%, 31.8%, 50%,61.8%, 78.6%,100%,127.2% and so on for support and resistance levels. Sameway it must be some calculation that I presume Darsh showed us but can be fully confirmed once he teaches us the whole thing.

 

[Ropewalker]

I am thankful to Darsh for opening up a new horizon on trading. Most of us in the field of technical analysis were aware of the fundamentals of the system, but never actually applied it like Darsh did in daytrading. Darsh's levels have opened up that aspect and I now have incorporated this into my system yielding fabulous result. Thanks Darsh.

Ropewalker