Day Trading Support and Resistance Levels 3rd October 2008

The Support and Resistance levels described below are considered high probability areas for market "reversal", offering retracements of 0.75 points to in some cases 50+ points. In many instances historically referenced Support and Resistance levels can help traders catch markets tops/ bottoms to the very tick! Why? Support and Resistance levels are the most widely used market analysis tool! Everyone from Hedge funds and banks to the small time trader at home use Support and Resistance levels.

The Support and Resistance levels are to be used alongside set ups defined by the system/strategy that you are implementing. All Support and Resistance levels described have historical significance and are thus considered high probability areas. The Support and Resistance levels described are in a fairly large range to take account of market volatility. Throughout the trading day these numbers can become areas of Support AND Resistance.

We believe that Support and Resistance levels are the primary Technical analysis tool, all other levels described such as Pivots, Market Profile and Fibonaccis are to be used in confluence with our Support and Resistance levels. Please exercise good judgement in using these Support and Resistance levels.

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You can now have the Support and Resistance levels emailed to you via our Newsletter every morning.