I would like to start a discussuion about price movement at support/resistance, Fib and pivot levels.
Time and again I see the price bounce around an important level ,be it pivot, fib, support or resistance.Lots of time it will touch 5 or more times.
At these times I wonder what I should be looking for to try to determine, when it breaks if it will be a continuation or a reversal. I was hoping people might share there thoughts on this .
So the question is......
If price is Bouncing around a support or resistance level,
when it breaks, is it likely to continue through? or reverse .
Please share what you look for to try to predict which way the break will go and why.
Time and again I see the price bounce around an important level ,be it pivot, fib, support or resistance.Lots of time it will touch 5 or more times.
At these times I wonder what I should be looking for to try to determine, when it breaks if it will be a continuation or a reversal. I was hoping people might share there thoughts on this .
So the question is......
If price is Bouncing around a support or resistance level,
when it breaks, is it likely to continue through? or reverse .
Please share what you look for to try to predict which way the break will go and why.