finding resistance and support

gtg657g · 09-22-2005, 07:56 PM

could someone please fill me in on how this resistance and support is found. I think it is dependent on moving averages, but which one? Heeeeelp!

jm2552 · 09-22-2005, 11:50 PM

Toni Turner's book on short-term trading has a great analogy of a ball, ceiling and floor that explains it pretty well. Also explains the importance of realizing that the previous ceiling becomes the new floor (hopefully) and vice versa (not hopefully),

Thierry Martin · 09-22-2005, 11:58 PM

You can get Toni Turner's books at our sister site's bookstore here at special low prices.

TheChartGuru · 09-23-2005, 10:16 AM

Toni's books are fantastic. Her explanation of support/resistance is very simple. She explains several of her favorite key indicators that you may incorporate in your technical analysis. She has a new book out. I haven't read it yet, but I would recommendthat you buy that one first being that it is her newest edition.

The Guru has spoken

KJ · 09-23-2005, 12:20 PM

Has anyone read Murphy's Technical Analysis of the Financial Markets or Nison's The Candlestick Course???

I picked up Toni's Short Term Trading in the New Stock Market. So far it's a good reason, thanks for the recommendations! However, from the reviews I read online, it sounds like Murphy's and Nison's books are more specific. Part of the reason why I bought Turner's book was that she was more general and covered more topics.

Thoughts?

TheChartGuru · 09-23-2005, 04:19 PM

I have Greg Morris "Candlestick Charting Explained" and Bigalow's "Profitable Candlestick Trading". They are both great books on Candlesticks except Bigalow's book explains how to use Stochastics along with candlesticks to time entry and exits.

The Guru has spoken

09-22-2005, 07:56 PM	#1
gtg657g valued contributor Join Date: Sep 2005 Posts: 49	finding resistance and support could someone please fill me in on how this resistance and support is found. I think it is dependent on moving averages, but which one? Heeeeelp!

09-22-2005, 11:58 PM	#3
Thierry Martin Site Administrator Join Date: Jun 2005 Location: Canada, in an igloo. Posts: 6,653	You can get Toni Turner's books at our sister site's bookstore here at special low prices. __________________ Free instant email analysis of your favorite stock.

09-23-2005, 10:16 AM	#4
TheChartGuru forum leader sept/08 simulation winner mar/08 simulation winner jan/08 simulation winner weekly challenge winner 7x may/06 challenge winner feb/06 challenge winner Join Date: Sep 2005 Location: Miami, Fl Posts: 2,347	Toni's books are fantastic. Her explanation of support/resistance is very simple. She explains several of her favorite key indicators that you may incorporate in your technical analysis. She has a new book out. I haven't read it yet, but I would recommendthat you buy that one first being that it is her newest edition. The Guru has spoken __________________ Matthew 10:32...'Whoever acknowledges Me before men, I will acknowledge him before My Father in heaven. But whoever disowns Me before men, I will disown him before My Father in heaven.'

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09-22-2005, 11:50 PM	#2
jm2552 valued contributor Join Date: Aug 2005 Location: CT Posts: 142	Toni Turner's book on short-term trading has a great analogy of a ball, ceiling and floor that explains it pretty well. Also explains the importance of realizing that the previous ceiling becomes the new floor (hopefully) and vice versa (not hopefully),

09-23-2005, 12:20 PM	#5
KJ valued contributor Join Date: Sep 2005 Location: Minneapolis, MN Posts: 108	Has anyone read Murphy's Technical Analysis of the Financial Markets or Nison's The Candlestick Course??? I picked up Toni's Short Term Trading in the New Stock Market. So far it's a good reason, thanks for the recommendations! However, from the reviews I read online, it sounds like Murphy's and Nison's books are more specific. Part of the reason why I bought Turner's book was that she was more general and covered more topics. Thoughts?

09-23-2005, 04:19 PM	#6
TheChartGuru forum leader sept/08 simulation winner mar/08 simulation winner jan/08 simulation winner weekly challenge winner 7x may/06 challenge winner feb/06 challenge winner Join Date: Sep 2005 Location: Miami, Fl Posts: 2,347	I have Greg Morris "Candlestick Charting Explained" and Bigalow's "Profitable Candlestick Trading". They are both great books on Candlesticks except Bigalow's book explains how to use Stochastics along with candlesticks to time entry and exits. The Guru has spoken