Sunday, September 20, 2009


  • A technique used by pro traders & market makers to make entry & exit points for the day.
  • Useful in forex since many pairs fluctuate between these levels.
  • Range-bound traders enter buy order near identified levels of support & sell new resistance.
  • Allow breakout traders to identify key levels that need to be broken for a move to qualify as a bonafide breakout.
  • Allow to see possible areas to cause price movement.
  • Good to use with other indicators.

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