How to trade using the Psychological levels| Jeffrey Benson

Psychological levels are price levels which tend to draw big market attention and typically witness a reaction by price when tested. These levels are the main round numbers (whole numbers), referred to as “Double Zeros such as .9800, .990.
These psychological levels also come into play because of the big institutional and corporate interest that they attract. Many central banks have price reference ranges for their currencies which they like to see price trading in and very often when price moves to the upper or lower end of these reference ranges, we tend to see intervention by central banks, either verbal or actual.

Useful Psychological levels can be in helping you find entry points to the market as well as managing your trades. Like all trading systems or methods, the approach is not 100% effective but when combined with other factors it can certainly be a useful addition to your trading plan and is worth spending some time researching on your charts.

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Видео How to trade using the Psychological levels| Jeffrey Benson канала Jeffrey Benson