$FIL broke below the 1.2 level.
I used to wonder why everyone watched round-number levels. It gradually clicked: there’s nothing special about the levels themselves. It’s because everyone watches them and places orders around them, so price tends to be more volatile when it reaches those areas.
The first rebound after a breakdown is often seen as a test. If price gets turned away near the level, that makes the idea that support has turned into resistance more convincing.
Keep enough margin for your futures positions, and don’t let a sudden move wipe out your position.
#FIL
I used to wonder why everyone watched round-number levels. It gradually clicked: there’s nothing special about the levels themselves. It’s because everyone watches them and places orders around them, so price tends to be more volatile when it reaches those areas.
The first rebound after a breakdown is often seen as a test. If price gets turned away near the level, that makes the idea that support has turned into resistance more convincing.
Keep enough margin for your futures positions, and don’t let a sudden move wipe out your position.
#FIL