Random article: Tirone Levels
Tirone levels represent a sequence of several horizontal levels decreasing in succession. This method is used for determining support and resistance levels within trading range at definite moment of time.
Tirone levels were elaborated by John Tirone. In practice, TL are applied to improve visual reception of price movement. Also through these method of technical analysis one can generate signals for opening positions. For example, if price reaches TL from upward – it is an alert for purchase and a signal for sale is received, when prices approaches from bottom.