Trading Basics: Support and Resistance pointsHi traders, today I am going to teach you a very basic and effective indication that you can use when trading, and it is called Support and Resistance points.
Support and Resistance points tell you whether the company is going to go up, or if it is going down. If you would like to know more about the Support and Resistance points individually, you can take a look at my previous posts where I go deeper into the topic of Support and Resistance. If you would like just a brief over view of what it looks like you can take a look at the chart above NYSE:MMM
MMMC34 trade ideas
Trading Basics: Support and Resistance pointsHi guys, here is a basic indication that you guys might use(especially if you are new to trading)
And the indications are the Support and resistance points. This indication tells you if the market is going to go higher or lower. You guys can check my other posts that are more in specific in what is a resistance and support point. But if you are just looking for a brief example, you can take a look in the chart above(MMM). NYSE:MMM
Simple Trading Techniques – Pullback Candlestick Strategy
Go long the MMM if it trades at 167.13 or higher. If triggered, place your stop at 164.64 and exit the position for a profit at 169.32 or at your own discretion. (Signals are valid for 1 day only. Always invest wisely).
Learn the rules of this strategy at: www.udemy.com
3M: Revisiting the shoulder levelI have in mind launching a private stock market index called the Speculative Index with a portfolio comprising of long and short positions in DJIA companies based on speculation, just for fun and experimentation, you know. That could hardly be called an index, I know, but let's not talk about it. I will begin publishing ideas about the related stocks, then I will make a test run with a transparent portfolio statement and announce the P/L statistics. So this one is the first analysis in the series. I will tag the analyses "speculative-index" so that the interested may easily reach them.
It seems the market wants to retest the old levels, so our position would be long on this stock.