Troy Noonan > Quotes

“If the end of a trend features a large candle with much higher volume than other recent bars, then watch out! You may be looking at a blowout (top or bottom). If so, the trend is likely to be over in the short term and may even reverse soon. Your chances of success in trading the “action” move are therefore lower, as a reversal is underway and the new trend is developing in the other direction.”
― Troy Noonan, Day Trading QuickStart Guide: The Simplified Beginner's Guide to Winning Trade Plans, Conquering the Markets, and Becoming a Successful Day Trader

“Support and resistance levels are drawn as horizontal lines on the charts and should highlight prices that have been touched numerous times in the past. ​»​ The greater the number of times a price serves as a support or resistance, the greater its significance if that level is eventually broken.”
― Troy Noonan, Day Trading QuickStart Guide: The Simplified Beginner's Guide to Winning Trade Plans, Conquering the Markets, and Becoming a Successful Day Trader