Someone recenty asked me for my current support and resistance.
“Hard to say.”
Can’t you be more specific?
“Of course, I just don’t want to confuse you.”
Ok, Round numbers, let’s call 825 as resistance, and 775 as support, with 800+/- being the middle.
Intermediate support may be somewhere between “85 and 92”.
The rest is, as they say, “Horse trading.”
That battle needs to be resolved before we fight other larger battles.
I am not sure if that is helpful to you, but that’s the way I think.
The exact high could be 823.25, 821, 827 even. It’s the concept of relativity and risk and reward.
The high needs balancing if my judgment is correct, and the catalyst for this battle was “news” or whatever. The deep retracement that came after the early shorts were taken out to the woodshed and shaken out but good is a healthy and normal process of ebb and flow.
The 123 Higher High pattern is one of he Boyz favorites, so study it.
Study! It’s worth a lot of money!
This pattern is detalied in depth in our study course.
The above text was written mid afternoon.
Generally right, but didn’t make a dime on it.
I was out of the office, and although I had my laptop with me, I don’t trade when I am not focused.
Superman Don Miller does, (he could probably trade on an iphone); “know thyself” is an important maxim of mine.
I always keep learning though, even when ” not on the job”.
Still on the road, no chart available yet.
Last night’s chart should be close enough for now.
Don’t fall in love with positions right now; capture a slice and be happy with it.