Intro to Key levels
1) Describe Key Level.
- In trading charts, Support and Resistance acts more significant for technical analysis and gives a strong confirmation for buy and sell signals and sometimes trend reversal too.
- Prices tend to retest support and resistance levels, until broken. Thus, traders can Buy when an asset price is approaching Resistance, and Sell when approaching Support.
- This combination of horizontal multiple supports and resistance together is called as Key Level.
2) Significance of Key Levels.
- Key Levels has higher potential to give buy/sell signals.
- Support may turn into a resistance and vice versa.
- High probability to take multiple entries and exits.
3) Example for Key Levels.
