Shard,
I find that these levels will correspond to many commonly followed measurements. Fibos, MA's, etc. The reason is pretty simple. Other traders are making decisions based on these and they become levels of supply vs demand.
I find that these levels will correspond to many commonly followed measurements. Fibos, MA's, etc. The reason is pretty simple. Other traders are making decisions based on these and they become levels of supply vs demand.
DislikedInteresting that you cite 2407 as a point of interest - 2427 is actually the 89 day moving average and would definitely be a key support/resistance level. So from both a technical perspective and a "river" perspective you appear to be right on the money.Ignored