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Order of Importance for Resistance Levels?

Posted: Sat Oct 20, 2012 8:31 am
by oem7110
Referring to following linked images, does anyone have any suggestions on what
the order of importance is for resistance levels?
Thanks in advance for any suggestions ... stance.jpg

Posted: Fri Dec 14, 2012 10:24 am
by Macro
I used to believe they were most psychological, hence a self-fulfilling prophecy, however unlike all the fluff that one confronts in discretionary TA, I believe that s&r levels may be of significance- if you knew that a central bank was defending a certain level in an asset, it would be unwise to try and fade them. Or perhaps my opinion has been curve fitted to the risk on/ off environment.