Trends – Price Levels

Direction Table-Price Levels is updated every trading day between 5 pm and 6 pm New York time. Direction is defined for 3 degrees of trend, macro, major, and minor (direction and levels are determined by an algorithm that takes into account price and time above/below a certain price). If direction is up, then a support price is identified. That support price serves as a pivotal price, or where the trend would change to sideways or down. If direction is down, then a resistance price is identified. That resistance price serves as a pivotal price, or where the trend would change to sideways or up. If direction is sideways, then a resistance price and a support price are identified. Those prices serve as pivotal prices, or where the trend would change to up if resistance is broken and to down if support is broken. This table is not meant to be used as a standalone trading system. Use it as a tool to identify important price levels and provide a snapshot of market trends. Highlighted rows are pairs that I’m concentrating on.

 

Screenshot 2014-09-03 19.12.15

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