🐋 $RLC breaks through the 1.1 level, 361 days since it was last here.
There are usually plenty of stop-loss orders around key levels, so first, let's understand why they matter.
Support is a price zone where prices have been held up multiple times during declines. Resistance is an area where prices have repeatedly been held back during rises.
The first pullback after a breakout is often seen as a litmus test: if the price can stabilize above the level, the idea that resistance has turned into support is more likely to hold.
Sizing your position based on the distance to your stop is much more reliable than just guessing.
#RLC
Markets carry risks. Trade with caution.
There are usually plenty of stop-loss orders around key levels, so first, let's understand why they matter.
Support is a price zone where prices have been held up multiple times during declines. Resistance is an area where prices have repeatedly been held back during rises.
The first pullback after a breakout is often seen as a litmus test: if the price can stabilize above the level, the idea that resistance has turned into support is more likely to hold.
Sizing your position based on the distance to your stop is much more reliable than just guessing.
#RLC
Markets carry risks. Trade with caution.