How to reference support levels?
For example:
XXX effectively breaks below
then you can look further down
That means:
In a situation where sentiment is surging and the structure is extremely bullish,
if this level does not break through (to the downside),
it can be used as a support level reference.
Once price stabilizes at the support level and forms a base for the bottom,
it can be considered a possible entry opportunity.
It doesn’t mean that
you can short down to this level.
In an extremely bullish structure,
if this level does not effectively break down,
it won’t move lower. 🌹
A pullback need doesn’t mean that both sides have to “eat.”
We just need to trade in relatively certain market conditions.
(Individual notes for reference only)
For example:
XXX effectively breaks below
then you can look further down
That means:
In a situation where sentiment is surging and the structure is extremely bullish,
if this level does not break through (to the downside),
it can be used as a support level reference.
Once price stabilizes at the support level and forms a base for the bottom,
it can be considered a possible entry opportunity.
It doesn’t mean that
you can short down to this level.
In an extremely bullish structure,
if this level does not effectively break down,
it won’t move lower. 🌹
A pullback need doesn’t mean that both sides have to “eat.”
We just need to trade in relatively certain market conditions.
(Individual notes for reference only)
