Flat Level (FL)

Flat levels may not be confirmed as significant levels of Support or Resistance yet, but they are recent areas where price action faced obstacles. They could be part of patterns like Ascending or Descending Triangles, Double Bottoms or Tops, and they show levels where price action is encountering resistance.

Usually, Flat Levels are retested and can offer a second chance for entry if a Breakout fails to occur or is missed.

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Sep 15, 2023