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Igor

Speed Resistance Lines Definition

By Igor, in Trading Dictionary

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Igor    10

Igor
Posted

Traders can use the speed resistance lines for retracement trading. This tool has three trend lines which are drawn as follows: the first is drawn from swing high to swing low in a downtrend or swing low to swing high in an uptrend, and the other two are drawn at angles that try to connect recent highs or lows in a 1/3 or 2/3 retracement pattern, to identify any areas of support or resistance.

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