$MAGIC ｜Breaking through the 0.15 level
Before looking at position size, first understand round-number levels.
The longer it’s been since the price last reached this level, the more the distribution of holdings may have changed. Past support and resistance may no longer be valid.
It’s common for prices to break through a level and then fall back, so many people wait for the closing price to hold above it before taking it seriously, rather than following the move the moment it breaks through.
Don’t let a single number throw your plan off course, and never use borrowed money to test a hunch.
#MAGIC
Your ideas may be wrong at any time. Manage your own risk.
Before looking at position size, first understand round-number levels.
The longer it’s been since the price last reached this level, the more the distribution of holdings may have changed. Past support and resistance may no longer be valid.
It’s common for prices to break through a level and then fall back, so many people wait for the closing price to hold above it before taking it seriously, rather than following the move the moment it breaks through.
Don’t let a single number throw your plan off course, and never use borrowed money to test a hunch.
#MAGIC
Your ideas may be wrong at any time. Manage your own risk.