That pop higher today above $22 is pretty key (PURPLE resistance line, most significant). Looking for $23+
Understanding Support and Resistance Levels:
Remember, the more informed and objective we can be with numbers, the more
confident we can be with our trades. That’s important because, although price action is
random (a fact that has been proven time and time again), there are repeatable patterns
we can use to get an edge.
Two of those objective data points we can use to gain an edge are support and
resistance levels. These are two of the best tools we have when it comes to swing
trading. Why? Because they give us strong data points that suggest where an
instrument is likely (and unlikely) to go.
But this is really key: Arbitrarily cataloging each price level that appears to be
relevant as a support or resistance level isn’t going to get you far. That’s why
Aspen Trading takes a unique approach to support and resistance levels.
With Aspen’s Support & Resistance Levels, we measure where trades (prices) occur in
terms of frequency. This gives us a sense of where market participants are wagering
prices may go.
That’s about as raw and unfiltered as you can get in terms of displaying what has taken
place. There’s no room for interpretation - this is raw data that can be used to get a
sense of where prices may be heading.
Understanding Support and Resistance Levels:
Remember, the more informed and objective we can be with numbers, the more
confident we can be with our trades. That’s important because, although price action is
random (a fact that has been proven time and time again), there are repeatable patterns
we can use to get an edge.
Two of those objective data points we can use to gain an edge are support and
resistance levels. These are two of the best tools we have when it comes to swing
trading. Why? Because they give us strong data points that suggest where an
instrument is likely (and unlikely) to go.
But this is really key: Arbitrarily cataloging each price level that appears to be
relevant as a support or resistance level isn’t going to get you far. That’s why
Aspen Trading takes a unique approach to support and resistance levels.
With Aspen’s Support & Resistance Levels, we measure where trades (prices) occur in
terms of frequency. This gives us a sense of where market participants are wagering
prices may go.
That’s about as raw and unfiltered as you can get in terms of displaying what has taken
place. There’s no room for interpretation - this is raw data that can be used to get a
sense of where prices may be heading.