$BTW lost the 1.6 level, the last time it was here was 7 days ago.
Brothers, why are round-number levels important? Here’s the gist in one paragraph👇
Round-number levels are valued because traders tend to place orders and take-profits near whole numbers, so orders are often concentrated around those areas, which is why they’re also called psychological levels.
The level itself does not determine rises or falls; it’s more like the place where the contest between buyers and sellers is most concentrated, and the result depends on the actual trading volume.
The same data can mean completely different things in different market conditions, so don’t mechanically copy one rule of thumb.
#BTW
Be mindful of risk and make your own independent judgment.
Brothers, why are round-number levels important? Here’s the gist in one paragraph👇
Round-number levels are valued because traders tend to place orders and take-profits near whole numbers, so orders are often concentrated around those areas, which is why they’re also called psychological levels.
The level itself does not determine rises or falls; it’s more like the place where the contest between buyers and sellers is most concentrated, and the result depends on the actual trading volume.
The same data can mean completely different things in different market conditions, so don’t mechanically copy one rule of thumb.
#BTW
Be mindful of risk and make your own independent judgment.