Respect in technical analysis refers to the concept that a certain price level, trend, or pattern has a strong influence on the market and is likely to continue to have an impact on price movements in the future. For example, a price level that has consistently acted as a support or resistance level may be considered to have a high level of respect.
Technical analysts may use respect in their analysis to make predictions about future price movements. For example, if a price level has consistently acted as a support level, a technical analyst may anticipate that the price will continue to find support at that level in the future.
Respect is an important concept in technical analysis because it can help technical analysts to identify key levels, trends, and patterns that are likely to have a significant impact on the market. By taking respect into account, technical analysts may be able to make more informed predictions about future price movements and adjust their trading strategies accordingly.
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