Technical levels are one of the crucial elements of technical analysis on the Forex market. Technical levels represent a certain value approaching which the price faces resistance in further movement. On the chart it is pictured as zone (level), where price went and bounced off later, repeated its movement to the level again and without being able to pass it bounced off. Such approaching and returns can take place on a repeated basis and the more efforts are made, the stronger price level we have.
Calculation of PTV ( Price-Time Radius Vector) on traditional price-time chart is the application of the Pythagorean proposition studied in senior school on classes of geometry. It states that squares on the legs of a right triangle add up to the square on the hypotenuse. In our case, legs are price and time, hypotenuse is PTV (Price-Time Radius Vector).
Technical levels are one of the crucial elements of technical analysis on the Forex market. Technical levels represent a certain value approaching which the price faces resistance in further movement. On the chart it is pictured as zone (level), where price went and bounced off later, repeated its movement to the level again and without being able to pass it bounced off. Such approaching and returns can take place on a repeated basis and the more efforts are made, the stronger price level we have.
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