Which technical indicator shows support and resistance

The pivot point is the best intraday support and resistance indicator. It indicates the supports and resistances for the day, based on the previous day’s movement. If you are an intraday trader, these values are of pivotal importance to you. 

Yahoo Finance charts have it... activated.

Chose Fibonacci option...

This is the best support and resistance indicator a trader can ask for. In an uptrend, the Fibonacci retracement points are the strong demand zones, whereas the Fibonacci extension points are the supply zone (vice versa for the downtrend).
- https://tradersir.com/support-resistance-indicator/

Comments

Post a Comment

Popular posts from this blog

On Balance Volume Trading Strategy

Volume  shows crowd sentiment as price bars carve out patterns that predict a bullish or bearish outcome. Volume supporting price action creates  convergence , adding reliability to directional signals. Opposing action creates  divergence , warning that market forces are in conflict, with one side eventually taking control. OBV generates more actionable signals than the green or red volume histograms commonly found at the bottom of  price charts . OBV hits a new high while the price tests resistance: bullish divergence, predicting the price will break  resistance  and surge higher, playing catch-up. The price hits a new high while OBV grinds at or below the last resistance level: bearish divergence, predicting the  rally  will stall or reverse. OBV hits new low while price tests support: bearish divergence, predicting the price will break support and surge lower, playing catch up. The price hits new low while OBV grinds at or above the last s...
Read more

Rise to the Top: Navigating the Stock Market as a Rookie Trader

As a beginner in the stock market, I am constantly monitoring the market and its fluctuations. Recently, I have noticed that the market seems to be on the rise. With this upward trend, I can't help but feel a little bit of "fear of missing out" (FOMO) about not buying any stocks. Yesterday, TSLA (Tesla, Inc.) fell back down after a morning rise and closed at $118.85. This has prompted me to consider buying TSLA at $119, in the hopes of making a profit as the market continues to rise. However, as a rookie trader, I need to be cautious and make sure to thoroughly research and consider all options before making any decisions. At the moment, none of my current holdings are ready to be sold yet as most are still in the red. As a rookie trader, it is important for me to have patience and not rush into any decisions. I will continue to keep a close eye on the market and my holdings, making sure to make informed and calculated decisions as I navigate the world of stock trading.  ...
Read more

The Meaning of CFD Trading in Singapore

CFD stands for Contracts For Differences. "It is an agreement between 2 parties to settle the difference between the opening and closing prices of the contract multiplied by the number of units of the underlying asset specified in the CFD.  CFDs allow customers to participate in the price movement of an underlying product without actually owning the asset, which can be a share, an index, a commodity, etc.  Phillip Securities offers the following types of CFDs:  1. Equities CFD (which includes Shares CFD and Shares Direct Market Access DMA CFD) 2. ETF CFD 3. World Indices CFD 4. Commodities CFD and 5. FX CFD I am studying CFD trading now because I want to trade in the US stocks. Compared with Singapore stocks, US stocks have bigger movements. Big movements could be up or down, which means it will be very risky. In the meantime, the markets in Singapore is again up a little bit this morning. It has been going up and down by point something percent in the last few days. That...
Read more