$WLD falls below the 0.55 level.
When I first got into the market, I couldn’t understand why everyone watched round-number levels. Later, I realized that the levels themselves aren’t special—it’s because so many people watch them and place orders around them that price tends to react more noticeably when it reaches them.
Many people use these levels as anchors for risk management: which side of a level they hold a position on and where they set their stop-losses can be more practical than trying to predict the direction.
Don’t let a single indicator throw off your rhythm, and never use borrowed money to test a reading.
Just a market note. Please make your own trading decisions.
When I first got into the market, I couldn’t understand why everyone watched round-number levels. Later, I realized that the levels themselves aren’t special—it’s because so many people watch them and place orders around them that price tends to react more noticeably when it reaches them.
Many people use these levels as anchors for risk management: which side of a level they hold a position on and where they set their stop-losses can be more practical than trying to predict the direction.
Don’t let a single indicator throw off your rhythm, and never use borrowed money to test a reading.
Just a market note. Please make your own trading decisions.