Supports, Resistances, and Doji

From what I've seen you probably shouldn't be trading Sportscards, let alone Options.

#EW #Nevercutaloss

 

Damn bro, that's great. Serve me one more glass of your Kool-Aid.

When did you get plugged into the Matrix? You're really fcked now.

 

How do you define support and resistance? Answer the same question for supply and demand, if you will.

 

Second circle from the left,would you have bought or sold that level?

 

Support and resistance, supply and demand zones are just a crude way to explain price action.

For example.

Price did not "bounce" of resistance here, it reached a statistical retracement level.





It can also retrace .5 or .618, where you would think once the S&R level/zone was broken that we were having a trend reversal, and then call it a failed break out when you get stopped out lol.



Don't even get me started on order blocks lol...another crude example of trying to explain price action that is not understood.

 

"statistical retracement level" MasterWxy???!!!

 

I like to refer to Fibonacci levels as natures quants.

 

So you give more credibility to Fibs than S&R or "Supply and Demand zones"???!!!

I get the point of Price moving by a certain amount it's more likely to bounce, but arbitrary Fibs MasterWxy?

 

Are you joking? I just explained how S&R/Supply and demands zones don't exist. I legit feel I could walk into any funds quant department and end their careers by saying, "Hey guys, you ever heard of a Fibonacci retracement tool?

 

According to many technicians, support = demand and resistance = supply.