Summary

• 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.

Tags:
forex
accurate forex signals
reversal patterns
candlestick
currency trading
exchange rates
buy stocks online
trend
stochastics
oscillators