$Q fell below the 0.125 level.
Folks, how should we understand support and resistance? Here’s the gist:
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. Past support and resistance may no longer hold.
The level itself doesn’t determine the direction. It’s more of an area where buyers and sellers tend to clash, and ultimately, the direction depends on where the money flows.
The same reading can mean very different things in different market conditions, so don’t blindly apply a single rule.
Folks, how should we understand support and resistance? Here’s the gist:
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. Past support and resistance may no longer hold.
The level itself doesn’t determine the direction. It’s more of an area where buyers and sellers tend to clash, and ultimately, the direction depends on where the money flows.
The same reading can mean very different things in different market conditions, so don’t blindly apply a single rule.