Hello Everyone
Can someone please recommend me some good books on technical analysis for forex and commodity trading? Also, recently, I came across with some local trading institutions who claim that technical analysis related to support-resistance is outdated system n supply-demand strategy is the one I should look for. Is it really true? Looking for your frank opinions and assistance.
Have a grt day 
This is what the forum’s search function is for. There are loads of threads discussing exactly this.
My own suggestions are in this post (but the whole thread is worth reading, by the way).
No - it’s ridiculous nonsense.
S/R has stood the test of time and is absolutely fundamental to technical analysis.
(Also - realistically, there’s no “supply and demand” with spot forex, anyway: there’s only “buying pressure and selling pressure”. The careless wording of whatever you read also makes me further question its validity as a source.)
(Also - realistically, there’s no “supply and demand” with spot forex, anyway: there’s only “buying pressure and selling pressure”. The careless wording of whatever you read also makes me further question its validity as a source.)[/QUOTE]
Thanks for your clarification. Well I am new so I couldn’t argue with their claim… I said exact words as they said “supply and demand strategy”…thats what they said to me…I will stay away from them as seems some rubbish marketing tactic…
It did strike me, reading what you quoted from them, that they were probably trying to sell something.
Unfortunately that’s true of much online trading-related “information” (some of which is also perfectly valid and reasonable information, of course.)
John J. Murphy - Technical Analysis of the Financial Markets. An old book, but still very relevant - nicknamed the Bible of Technical Analysis, the most in depth book I’ve read.