$PENGU fell below the 0.008 level.
I used to wonder why everyone watched round-number levels. Later, I realized: these levels have no magic of their own. It’s because everyone is watching them and placing stop-loss orders around them that prices tend to become more volatile when they reach these levels.
Indicators can be wrong, but risk management can’t be absent: deciding in advance what to do if your judgment is wrong is more important than guessing correctly.
#PENGU
I used to wonder why everyone watched round-number levels. Later, I realized: these levels have no magic of their own. It’s because everyone is watching them and placing stop-loss orders around them that prices tend to become more volatile when they reach these levels.
Indicators can be wrong, but risk management can’t be absent: deciding in advance what to do if your judgment is wrong is more important than guessing correctly.
#PENGU