$LUMIA ｜Breaking through the 0.11 level
Before discussing capital flows, let’s first clarify the key price level.
The more frequently a price level is tested, the more weight it tends to carry in traders’ minds. However, some argue that repeated tests can also weaken the buying support there.
The first pullback after a breakout is often seen as a test: if the price can hold near the level, the idea that resistance has turned into support becomes more convincing.
Comparing multiple indicators is more reliable than looking at just one, but no number of signals can provide a definitive conclusion.
#LUMIA
For personal sharing only; this is not a recommendation to take any action.
Before discussing capital flows, let’s first clarify the key price level.
The more frequently a price level is tested, the more weight it tends to carry in traders’ minds. However, some argue that repeated tests can also weaken the buying support there.
The first pullback after a breakout is often seen as a test: if the price can hold near the level, the idea that resistance has turned into support becomes more convincing.
Comparing multiple indicators is more reliable than looking at just one, but no number of signals can provide a definitive conclusion.
#LUMIA
For personal sharing only; this is not a recommendation to take any action.