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Does Support Strengthen or Weaken After More Touches? http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE Some traders insist that as soon as support is hammered and touched several times odds are that sooner or later it will breakthru. The other side of the camp insist that every time support holds, the stronger it becomes; a strong support means more people are dealing at that level in a counter-trend position and its more likely to hold in future. Which line is right? I like to look at things at the bigger picture. I don’t just like to see that a key support level has been touched 4 or 5 times..etc but looking broader and taking that into account. This is a pure price action approach and it has worked for me. At the end of the day key levels are a big part of this business . Do we want to fade them? Do we want to trade the breakout or do we want to leave them alone. The answer is in the higher timeframe trend – what is that doing? Is support with the trend?
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