Further to my comments below I append a daily chart showing the 1-day support of Japfa. This counter did not go lower than the low on 2.Mar 18 at 0.43 .
Agree with the your views on the misleading teaching on support and resistance.
From my experience a 1-day support or a 1-day resistance is much stronger than a counter hitting support or resistance on several occasions.
The 1 day support/resistance is much stronger than multiple supports/resistance and this is akin to a lone soldier holding the enemy at bay as compared with more than 1 soldier, lets say 5 soldiers, (means 5 supports/resistances) because the lone soldier manning the position is in a vantage point/position.
Rayner,
Further to my comments below I append a daily chart showing the 1-day support of Japfa. This counter did not go lower than the low on 2.Mar 18 at 0.43 .
Hi Rayner,
Agree with the your views on the misleading teaching on support and resistance.
From my experience a 1-day support or a 1-day resistance is much stronger than a counter hitting support or resistance on several occasions.
The 1 day support/resistance is much stronger than multiple supports/resistance and this is akin to a lone soldier holding the enemy at bay as compared with more than 1 soldier, lets say 5 soldiers, (means 5 supports/resistances) because the lone soldier manning the position is in a vantage point/position.
Just my 1 cent contribution.
Warmest Regards,
12155
Reply to @12155 : I appreciate your sharing!
good read. thanks.