Replies to post #3392 on *~1Best~* Market Timing & Trend-Signals

[*~1Best~*]

We have PPI in the morning...

Thanks

Oct 12 8:30 AM Retail Sales Sep - 0.5% 0.2% 0.3% -
Oct 12 8:30 AM Retail Sales ex-auto Sep - 0.6% 0.3% -0.4% -
Oct 12 8:30 AM PPI Sep - 0.6% 0.5% -1.4% -
Oct 12 8:30 AM Core PPI Sep - 0.2% 0.2% 0.2% -
Oct 12 10:00 AM Business Inventories Aug - 0.2% 0.3% 0.5% -
Oct 12 10:00 AM Mich Sentiment-Prel. Oct - 83.0 84.0 83.4 -

[*~1Best~*]

Good morning, Comment on supports and resistances: Trading on S/R is effective during trading range market. It is quite basic for trading markets since it is where prior price actions have shown traders decision to sell or to buy based on various technical reading and trading psychology. Also, during trending period, S/R is broken making higher/high vice versa.

The supports and resistances price action and market psychology applies to all markets depending on trading environment at particular moment such as trending period, trading range period, earning period, general market psychology, etc.

In summary, while supports and resistances involve price actions, technical reading, and market psychology, the visible S/R is quite simple since those are where bull/bear price actions, e.g. candles, fought which are shown multiple candles congregated, to simply put. Another example is intraday pivots, daily, and weekly - various trendlines.

Good trades