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RE: Trading Support and Resistance Levels - Short Technical Analysis Guide
Thanks for the simple and clear explanation of support and resistance!
One thing I noticed is that in your example graphs, the price falls off a cliff after your support and resistance lines. Doesn't this illustrate that the notions of support and resistance are not reliable and rather illusory? After all that technical analysis, the price just plummets anyway!
I am actually writing up another post on triangles. I didn't want to get into triangles in this post so I just left it without mentioning why it decided to plummet past the support. I should have mentioned why it plummeted past the support level and how to protect against it in this post as well.
Looking forward to your next post on triangles then!