Want to buy the bottom and sell the top? Want to predict major turning points in a security's price? Want to avoid buying too early or selling too late? Then you need to understand support and resistance levels!
I know a lot of people who mostly trade breakouts. That can be a very successful strategy, and I've used it myself to good effect. But if you buy a...
Stock graph of IPO stocks in early days will not have enough data for popular indicators. In these cases, using local maximum and local minimum can help spotting possible breakouts of the prices. The local maximum and local minimum needs only 3 price bars. The local maximum is recorded when the middle high is greater than the left high and the right high....