QSRL

Anyone who reads the commentary of Arthur Ullrich (The Trading Tutor) for very long will appreciate the value of the “QSRL” reference points. (Qualified Support Resistance Lines).

With this complex tool (that uses a multi-dimensional array), Beth keeps track of all valid QSRL reference points, displays them on the chart when they are approached, and also announces them to you. (These are support/resistance points that may date back many days or weeks to when they were established by the market. They remain valid points until they are broken by the market. Beth keeps track of when and where they are and removes them when the market goes through them.)

These are excellent support/resistance points to either initiate a new trade, consider going flat, or tighten up your trailing stop.

The announcement you hear Beth give in this example was when the market approached the gray/purple horizontal dashes at the top of the graphic.