As you can notice from the chart above, the market respects these lines. Respecting the lines does not mean that it will always bounce off these levels. Respecting these lines means that most of the traders are waiting to take actions around these lines. You can imagine how many traders set their take profit, stop loss, buy/sell orders, around these levels. This is why most of the time we can see a big move on the breakout.
If you have any questions, please post them in the comment section.
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