Something Can Occur | Mark Douglas
on the alternative to point out off his talents to such an skilled and
profitable dealer. The analyst was utilizing a technique known as “level and
line“, developed by Charlie Drummond (HERE).
Someday, as the 2 of them had been watching the soybean market collectively, the analyst had projected main assist and resistance factors and the market occurred to be buying and selling between these two factors. Because the technical analyst was explaining to the chairman the importance of those two factors, he said in very emphatic, virtually absolute phrases that if the market goes as much as resistance, it would cease and reverse; and if the market goes all the way down to assist, it would additionally cease and reverse. Then he defined that if the market went all the way down to the worth degree he calculated as assist, his calculations indicated that will even be the low of the day.