XAUUSD Shorts
Market levels refer to areas on a price chart where the price of an asset has found previous support or resistance. These levels can be used by technical analysts to help identify potential trade opportunities based on the behavior of the market at those levels.
When the price of an asset reaches a support level, it may find buying interest, causing the price to bounce higher. This is because a support level is an area where demand for the asset is believed to be strong enough to prevent the price from falling further.
On the other hand, when the price of an asset reaches a resistance level, it may find selling pressure, causing the price to fall back down. This is because a resistance level is an area where supply of the asset is believed to be sufficient to prevent the price from rising higher.
We are using these levels to give us the edge we need in the markets. I have my Green key level and red key levels. I find that it is easier to view them as points of entry for future targets than using them as a bounce off. You should always wait for the retest or adjust your trading with other confluences that will help determine the true market direction. The more confluences in the same direction give us the best overall idea of the markets.
When the price of an asset reaches a support level, it may find buying interest, causing the price to bounce higher. This is because a support level is an area where demand for the asset is believed to be strong enough to prevent the price from falling further.
On the other hand, when the price of an asset reaches a resistance level, it may find selling pressure, causing the price to fall back down. This is because a resistance level is an area where supply of the asset is believed to be sufficient to prevent the price from rising higher.
We are using these levels to give us the edge we need in the markets. I have my Green key level and red key levels. I find that it is easier to view them as points of entry for future targets than using them as a bounce off. You should always wait for the retest or adjust your trading with other confluences that will help determine the true market direction. The more confluences in the same direction give us the best overall idea of the markets.
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