I have been reading about trade signals forming at round numbers . I have read that they can be really strong support and resistance areas, that they are psychological areas where entries are placed. Does anyone have any experience with this concept? Any input would be greatly appreciated.
Round numbers
- Thread starter bob c.
- Start date
TheForexGuy
Forex Mentor
Personally I don't really look into them much, unless the round number is forming an obvious market top of bottom.
The thing is - we will be able to identify if the round number, or any other price level is significant from simple chart analysis, looking at if the level has been acting as strong support or resistance.
I just don't' think round numbers alone have any edge, you see price chopping through them all the time.
The thing is - we will be able to identify if the round number, or any other price level is significant from simple chart analysis, looking at if the level has been acting as strong support or resistance.
I just don't' think round numbers alone have any edge, you see price chopping through them all the time.