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If it where not possible to make money trading because the markets are inherently random, then why do so many traders make money?
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At this stage aggressive traders may think about taking a position but I like to wait a little longer and see if I get confirmation of the breakout.
Similar to support, a "resistance" level is the point at which sellers take control of prices and prevent them from rising higher.
Also, when a security nears its entry level watch very carefully how it trades.
First we will normally see a period of inactivity or consolidation.