Ssupport becomes Resistance / Resistance becomes Support (SBR/RBS)

wackypete2 said:

Short post and only 1 chart??
That's a change for you!

Good stuff though, as always

Peter

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bbmac said:

Yes, brevity is t he something of something...I forget..anyways...short and succinct and absolutely clear is now my middle name (s.)

G/L

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bbmac said:

The 1hr spot gbpusd chart is a good example of the repeating technical phenomenon of sbr/rbs. The move 5637-5991 exemplifies rbs.

Price encounters supply and pullsback then breaks to the upside of that newly formed fractal swing hi (s) and in a subsequent pullback that previous resistance acts as support as the 'buy the dip' participants take advantage of lower price to enter the uptrend/move.

It remains an important tech phenomenon and one from which a trading edge can be derived - given some methodology applied to it.

G/L

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wackypete2 said:

Short post and only 1 chart??
That's a change for you!

Good stuff though, as always

Peter

Click to expand...

kwickwool said:

BBMAC, still recommend your trading methodology post from a long time ago to anyone who is new to trading and an excellent starting point, including your SBR/RBS as per this post.

For anyone who wants it,

http://www.trade2win.com/boards/forex/42158-comprehensive-trading-system-methodology.html


Dont like specific rigid systems but in terms of understanding what is going on think your system is great. 3.5 years ago you helped me out when I was starting, good on you man. Hope the trading gods been looking after you.

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