Isolating just the psychological levels on the screen gives a unique view of psychological support and resistance over long periods of time.
On the attached chart I have plotted the psychological levels that fall every 50 pips on the GBPJPY.
For example:
129.00
128.50
128.00
127.50
127.00
126.50
126.00
… and so on …
Give this a try. It is a simple technique that helps identify current and upcoming support and resistance levels.
Tyler Lund
PSYCH-LEVELS
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3 thoughts on “PSYCHOLOGICAL LEVELS”
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Wow, I have never thought about it. Thank you.
Yes, the psychological levels are very important. The big money is obviously using them because price respects these levels.
Thank you…I did not notice them in GBP/JPY . Very clean chart.