Marked on the chart you can see some key levels 1356.478 ( resistance ) 1297.420 ( resistance ) and 1182.906 ( support )
You can see that price has touched and bounced off these levels 10+ times each, why do you think this is? this is because the big banks and the big players in the game set orders at these levels ( big amounts of money ) this will make the market move in the direction they want ( manipulating the market )
Now if we can identify these key levels that the big players are getting in the trades then we too can benefit from these, this is all we need key levels of support and resistance! Because if you spot these levels but wait for candlestick confirmation they you will probably miss the trade and loose out as the big players would have made there money and pulled out.
Keep an eye out for these key levels, and remember the HIGHER the chart timeframe the more RELIABLE the support or resistance level will be.
You can see that price has touched and bounced off these levels 10+ times each, why do you think this is? this is because the big banks and the big players in the game set orders at these levels ( big amounts of money ) this will make the market move in the direction they want ( manipulating the market )
Now if we can identify these key levels that the big players are getting in the trades then we too can benefit from these, this is all we need key levels of support and resistance! Because if you spot these levels but wait for candlestick confirmation they you will probably miss the trade and loose out as the big players would have made there money and pulled out.
Keep an eye out for these key levels, and remember the HIGHER the chart timeframe the more RELIABLE the support or resistance level will be.