$RLC ｜Breaking Through Level 1
How are key price levels determined? The longer it has been since the price last reached this level, the more the distribution of holdings around it may have changed, so the balance of bullish and bearish forces in the past may no longer hold.
The first pullback after a breakout is often seen as a litmus test: if the price can stabilize above the key level, the idea that resistance has turned into support becomes more convincing.
Any indicator merely describes past price movements; prices can just as easily move in the opposite direction.
#RLC
How are key price levels determined? The longer it has been since the price last reached this level, the more the distribution of holdings around it may have changed, so the balance of bullish and bearish forces in the past may no longer hold.
The first pullback after a breakout is often seen as a litmus test: if the price can stabilize above the key level, the idea that resistance has turned into support becomes more convincing.
Any indicator merely describes past price movements; prices can just as easily move in the opposite direction.
#RLC