A price that has mattered before: prior swing highs and lows, range edges, previous day/week/month highs and lows, opening prices, and round numbers.
How traders use it: Key levels are where traders plan, not where they guess: what happens on arrival (rejection or acceptance) is the information.
Common mistake: Drawing so many lines that every price is "near a key level".
Related: Support and resistance (S/R) · Confluence · Liquidity (in structure trading)
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Concepts only. Education only, not financial advice. No pattern on this site has a published win rate.