July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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Reaction High and Low Prices
Both resistance and support can be identified by location of reaction high and low prices. A reaction high is a price peak appearing during an in-range movement in price. The movement itself may be sideways or trending up or down; however, reaction highs are likely to occur following a downward movement, and the high price will set resistance. A single occurrence is not enough, however; resistance can be drawn on a series of reaction high prices.
The reaction low is the opposite. It is a price downward spike occurring within range, often offsetting (reacting to) a short-term rise in price. To set support, find a series of reaction low prices.
Key Point
Identifying a new level of resistance or support depends on ...
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