Inflection Points vs. Support or Resistance
I just read an article from a "Blogger" that said - the Dollar is at a multi-year Support.
First of all, that may or not be true because we all draw support and resistance lines DIFFERENTLY!
That, in itself is why I NEVER listen to anyone who talks or thinks Support or Resistance.
My many studies, on the subject, have proven to me without a doubt that making investment decisions based on S/R is VERY unprofitable. Performance and being Profitable in the Stock Market MUST be based on something that has both statistical and historical credence. That means, it must have a batting average of well over 90%. S/L would not even get a "C" grade in my classes I taught for so many years in Finance.
And that is WHY I have spent so much time developing my Methodology. I can prove to you that my "Methodology" does have a batting average of about 95% and that my individual Formal Recommendations to my Clients is 20% or better. Check me out!
As to S/Rs being Inflection Points, here too we have a MAJOR difference of opinion as to what an Inflection Points and is not - - as applied to "Investing Wisely."
Smile, Have Fun, "Investing Wisely,"