🐳 Where is the money going? $FIL breaks below the 1.1 level
There are usually lots of stop-loss orders clustered around price levels like this. Big players love to make moves here: either they push the price below the level to trigger long stop-losses, then reclaim it, or the breakdown is real and the price continues lower. To tell the difference, watch which side the large orders above and below the level are concentrated on.
#FIL
This is not a recommendation. Make your own trading decisions.
There are usually lots of stop-loss orders clustered around price levels like this. Big players love to make moves here: either they push the price below the level to trigger long stop-losses, then reclaim it, or the breakdown is real and the price continues lower. To tell the difference, watch which side the large orders above and below the level are concentrated on.
#FIL
This is not a recommendation. Make your own trading decisions.