Is anyone here familiar with the daily support and resistence levels of Gene Hervitz. He used to advertise in TASC in 99 or around and S/R levels looked pretty decent to bounce off from. The only problem was just like Carmilla Equation, do not know if it is going to bounce off or break through. Any tricks as to how to trade the equation. Cheers!
No one knows what price will do at these S/R levels. If you are interested, read my posts regarding pivots, and continue with your research. Good luck Lefty
======= Toc Never heard of Gene, however remember, one of the best probabilities are; resistance does NOT mean much in an up trend or bull market, and support does NOt mean much in a downtrend or polar bear market. Like lots of simple stuff that helps in trading; keep it simple. and probabilities are not predictions. Hard to figure why anyone would buy S&R levels with a reasonable library ??????? Its not rocket science.
Thanks for the views on S/R. Some are very important while others are broken through easily, that is the trick of the markets.