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CHAPTER 14 - Charts > SUPPORT AND RESISTANCE

SUPPORT AND RESISTANCE

Well, I’ve drawn the line across the chart room floor, so I might as well bring on the full wrath of chartists around the world. These poor deluded folks think that markets find support and resistance at certain places on their charts. There are many supposed systems for identifying where a market will turn based on price or time ratios. I don’t have the time, space, or inclination to demolish all of them, so I will just attack the most popular—the arcane notion that markets move according to something called Fibonacci ratios.


  

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