The following swing trading levels are reference points for traders to consider. As we provided levels for a long and short bias, the information is directionally neutral.
The levels are also ultra short-term, meaning that support and resistance targets are based on the nearest swing highs and lows. Typically, if a market is trending--in this case, trending in the short-term--price often hits the nearest target upon breaking out toward the upside or downside.
But like all patterns, there is a failure rate, particularly during moments of market indecision, signaling consolidation or ranging activity. The levels provided dont propose that a breakout will follow through toward hitting its target. Again, they are reference points for you to use should it help you in your own swing trading analysis.
The risk of loss in the trading of stocks, options, futures, forex, foreign equities, and bonds can be substantial and is not suitable for all investors. Trading on margin or the use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Supporting documentation is available upon request. Trading futures, options on futures, and FX involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.