Sentences with phrase «showing horizontal support»

Not exact matches

This would be confirmed if $ SPY breaks below the horizontal price support shown above, which is merely a move below the low of its current weekly candlestick.

Now let's look at the same chart with no indicators at all, there is nothing but pure price action and a couple of horizontal lines drawn in to show significant support and resistance levels.

Note that the pin bar trade setup showed rejection of a key horizontal support level as well as the 50 % retrace of the last major move, thus the pin bar had «confluence» with the surrounding market structure...

Lastly, and perhaps the most important, drawing a fibonacci retracement from the high and low of the entire trend shows very obvious horizontal support and resistance zones.