Which highs count

A chart has dozens of swing highs and only a few of them are levels worth watching. The three things that make one prominent.

Mark every swing high on a gold chart and you get twenty lines. Twenty lines is the same as no lines.

The filter is prominence. Only prominent highs and lows are worth treating as levels.

Three ways a level earns it

A high or low is prominent if one of these is true.

It started a large move. Price turned there and travelled a long way afterwards.

It was tested twice at almost the same price. Two highs level with each other is a double top, and everyone can see it.

Its break turned the trend. A close beyond it ended one direction and started the other.

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