trader_dante
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bang on 1318 on 17th May. Went as low as 1316 and as high as 1345. 2 handles against you and 27 handles in your favour. That's not bad R:R. Support and Resistence works for those who know how to use it. This is a great example of how Support and Resistence does work.
Thanks Brett,
I agree ; you do have to know how to use it.
People will always point out that for every "support" or "resistance" level that works, there are five others that fail. They may or may not have a point but you have to know how to pick them.
As I said, on that S&P chart there were multiple levels but only one that had a high probability of holding as future support in my opinion.