Importance of Support and Resistance in Trading

Support and Resistance are very important to a Technical Analyst or a Trader when planning for a trade.You,as a trader or technical analyst,should never undermine the significance of these two aspects of the trading plan and you should be very clear of these two levels before you enter a trade.Support and Resistance are your entry and exit levels for a long trade and vice versa for short trade.Moreover,prior knowledge of Support and Resistance brings much needed discipline in trading which is an important step for you to become a successful trader.