In This Chapter
Seeing the significance of support and resistance levels
Monitoring previous major highs and lows
Fulfilling prophecy with Fibonacci levels
Mastering floor trader pivots
Watching the waves
Responding to big round numbers
Support and resistance levels are like floors and ceilings in the market. They are price levels at which market participants feel the market will have a difficult time rising above or going below.
For these reasons, support and resistance levels are good price zones to consider entering the market or taking profits.
In this chapter, I share with you some of the most common support and resistance levels used by the trading community.
Support and resistance levels are simply prices at which the people trading ...