Market Notes | $EVAA | Breaking through the 1.3 level
First, a definition: Previous highs and lows are commonly used key price levels. The experience of being turned back or supported at those levels last time often influences decisions when the price returns to them.
Next, how to read it: It’s very common for the price to break through a level and then fall back below it. That’s why many people prefer to wait for the candle to close and hold above the level before treating the breakout as genuine, rather than following immediately when the price first moves through it.
Any data only summarizes market movements that have already happened; prices can move in the opposite direction at any time.
Markets involve risk. Trade with caution.
First, a definition: Previous highs and lows are commonly used key price levels. The experience of being turned back or supported at those levels last time often influences decisions when the price returns to them.
Next, how to read it: It’s very common for the price to break through a level and then fall back below it. That’s why many people prefer to wait for the candle to close and hold above the level before treating the breakout as genuine, rather than following immediately when the price first moves through it.
Any data only summarizes market movements that have already happened; prices can move in the opposite direction at any time.
Markets involve risk. Trade with caution.