A key observation with any form of technical analysis is support and resistance, that is to say, what price are significant number of buyers and seller sitting at. When price approaches these levels it is common to see price stall. For example, as price rises to resistance where sellers are waiting, it is common to see a prolonged period of trading at these levels as sellers orders are soaked up. If the number of sellers outweigh demand for the equity then price will reverse and start to fall once more, often to support. If however the number of sellers is not sufficient price may accelerate through resistance as traders become aware a new high is being made.
Free charting webinar
Mon, Nov 18th, 2013 12:00 PM - 1:00 PM EST
During the 60 minute session Paul Coghlan, founder of Coghlan Capital, looks at current charts for currencies, precious metals, US indices, highlighting turns and low risk entry points using the Median line analysis methodology.
Median line analysis reduces risk and increases the chartists ability to see trend direction, trend strength and highlight entry and exit levels.
Seats are limited so be sure to reserve your spot today. The webinar will be recorded, by signing up you'll receive an email with the webinar replay afterwards.