How significant are these support and resistances? | Forex Factory

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How significant are these support and resistances?

  • #1
  • First Post: Apr 11, 2007 6:03pm Apr 11, 2007 6:03pm
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
How significant are these support and resistances?

I just wanted to know the significance of support and resistances!! Because I read about support and resistance in many many sites and forums and as well from experts, of USDJPY since last three four trading days.
Sup 118.75
Res 118.50

And price never reached to these levels.

Can any give me little more explanation.
All things are difficult before they are easy.
  • #2
  • Apr 11, 2007 6:29pm Apr 11, 2007 6:29pm
Well it is my understanding that resistance is a significant level above the price, and support is a significant level below the price. Are you sure you wrote down those figures right? Your Sup is higher than your Res, which doesn't really make sense.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #3
  • Last Post: Apr 12, 2007 12:54am Apr 12, 2007 12:54am
from investopedia.com
Resistance
"The price at which a stock or market can trade, but which it cannot exceed, for a certain period of time."
http://i.investopedia.com/inv/dictio...Resistance.gif

Suport
"The price level which, historically, a stock has had difficulty falling below. It is thought of as the level at which a lot of buyers tend to enter the stock."
http://i.investopedia.com/inv/dictio...ms/Support.gif
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
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