what is support and resistance?

I want to add a note about support and resistance when trading on a daily basis. I was reading “the universal principles of successful trading” and Penfold is adamant to keep it simple, determine support and resistance. Unfortunately he does not assist in helping to determine that. Lukeman helps a lot in “the market makers…

holiday volumes and gapping

I have been looking at these low volume highs and lows as lacking confidence (click image for more): This opinion was further bolstered by james dalton: Tuesday’s market traded sharply lower and away from the fairest price level from December 30th; the pre-market update for today stated that Tuesday’s auction looked like long liquidation rather…

trade what you see and not what you think

When engaged in day to day trading it is easy to get caught up in confirmation bias once you are in a position. Traders often talk themselves out of a good position and forget about their logic. The human understanding when it has once adopted an opinion (either as being the received opinion or as…