Trend lines, resistance and supports
In this article we will discuss about a widespread, well-known key element of
technical analysis. Why do you think technical analysis especially some elements
work so well for financial markets? Why do you think Fibonacci levels are
usually strictly followed? Because thousands and billions of traders and
computer programs for trading use these elements. This way everybody acts the
same at the same time…
This is why we decided to present in the category of technical analysis, the
most used and well-known methods of predicting financial evolution. These
methods are easy to understand and are very efficient.
We will present you the trend lines. These lines can be support or resistance of
a chart. We will also learn what they are and how can be drawn. We will give
some examples of charts of S&P 500 e-mini and Dow and analyze how these charts
could have been interpreted and used for a profitable trading day. Finally we
will draw the conclusions.
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