08-21-2006, 07:19 PM
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Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Thanks: 545
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Originally Posted by Raphx » I have absolutely no experience in the financial markets. I recently read an article from Stocks and Commodities about support and resistance. Can anyone explain to me what these two terms mean? Sorry if this is a newbie question. I would really like some help. Thanks in advance! | There are different ways to identify support and resistance levels. Common methods are using moving averages such as the 200MA on a 5 minute chart. Other methods involve fibonacci work. I particulary use market profile, pivot points, and fibs to define my support and resistance levels. Also look for high volume areas. These can act as strong S&R points as well. My advice is to read, read, read. Equip yourself with market knowledge.
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DB, raphx appreciates your very prompt reply 
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