👉 The Most Important Support & Resistance Levels For Trading

Описание: In this video we touch on the importance of Support and Resistance levels in technical analysis.
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Hey Traders. Welcome back. It's DD Trader here! Trading off levels is the way we retail traders can score off the market. We obviously don't affect the price at all with our positions, so all we can do is look at the zones where price has been rejected in the past and await those zones, respecting them and expecting another rejection. These are zones and not exact levels. That's important to remember as well. Many times the levels are round number levels, yet sometimes not. The most important levels are the ones from the higher timeframe charts such as the 4 hour chart, the daily chart and the weekly chart.

A basic rule is that former support levels now act as resistance levels and that former resistance levels now act as support. Also important to mention is that when you trade from these levels, you have the best chances of good reward to risk ratio. All you need to do is see the rejection developing and trade it, protecting your position by putting your stop loss just above the level. This is usually a small risk with a bigger reward. If not, then it might not be a real level and probably not something that most traders will respect.

This is what market sentiment is all about. Traders are watching the price action and just going off what they've seen in the past. If prices rejected nicely off a level in the past, they likely will get rejected again this time. If prices go through the level, then you want to see if it's really a breakout, not just a tease. If it was really a breakout and not a fakeout, then many times the price will come back to the levels they broke out of and act as support or resistance the other way. So when price breaks up and breaks through resistance, then comes back for retest, the level it broke through now acts as support.

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