$NEAR ｜Above the 4.8 level
How should support and resistance be understood? The more frequently a price level is tested, the more prominent it tends to become in traders’ minds. However, some argue that repeated tests may also weaken the orders sitting at that level.
The level itself doesn’t determine whether the price rises or falls. It’s more often where the battle between bulls and bears is fiercest, and the outcome still depends on capital flows.
The same data can mean very different things under different market conditions, so don’t blindly apply a single rule.
#NEAR
Personal notes. Make your own decisions about buying and selling.
How should support and resistance be understood? The more frequently a price level is tested, the more prominent it tends to become in traders’ minds. However, some argue that repeated tests may also weaken the orders sitting at that level.
The level itself doesn’t determine whether the price rises or falls. It’s more often where the battle between bulls and bears is fiercest, and the outcome still depends on capital flows.
The same data can mean very different things under different market conditions, so don’t blindly apply a single rule.
#NEAR
Personal notes. Make your own decisions about buying and selling.