Psychological Levels - What Are They and How Do They Work?

Trading Discussion
1

As the title is simply put - I am looking to get more information on Psychological levels.
I want to know what the levels are and how they work.
I will be using them on smaller time frames - i.e. 10 and 15min charts as well as higher time frames (just for Support and Resistance confirmation).

Any links to websites with information on these levels is also very welcome.

2

Hello ideasonscribe!

Psycholgically strong levels tend to be used from higher

time frames than what you propose, although you can

of course still trade them on lower time frames.

Here are a few links:

1)Trading Psychological Whole Numbers

2http://www.investopedia.com/articles/active-trading/040315/numbers-display-profitable-trading-opportunities.asp

See what you think and ask more questions!

Interesting topic.

3

Perfect links, PipMeHappy!

So, the reason I trade them on such low time frames is because I personally have a mentor that I know in real life that trades them and is really successful with them.
I’m attempted to learn everything I can about his strategy but he isn’t much of a teacher. He is only helping me because I keep nagging him. He likes to keep to himself and his family for the most part.

I talk about this more in my thread here: 301 Moved Permanently