Technical Notes｜$CAP ｜Breaking below the 0.11 level
First, a definition: The more frequently a price level is tested, the more weight it tends to carry in people’s minds. However, some say repeated tests can also wear down the support at that level.
A common interpretation: When a price returns to a level after a long time, people who entered around that level before may sell to break even or add to their positions, so trading volume often becomes concentrated there.
Knowing how to read indicators isn’t hard; the hard part is sticking to the rules even when emotions are running high.
First, a definition: The more frequently a price level is tested, the more weight it tends to carry in people’s minds. However, some say repeated tests can also wear down the support at that level.
A common interpretation: When a price returns to a level after a long time, people who entered around that level before may sell to break even or add to their positions, so trading volume often becomes concentrated there.
Knowing how to read indicators isn’t hard; the hard part is sticking to the rules even when emotions are running high.