$FIL broke through the 1.1 level, with the current price at 1.1062.
Around key price levels, I usually look at three things:
① Close: An intraday touch doesn’t count; it’s a genuine breakout only if the entire candlestick closes above 1.1;
② Retest: Can the price hold near 1.1 on a pullback? If it does, resistance has turned into support;
③ Volume: Did volume pick up during the breakout? A breakout on declining volume is more likely to be reversed.
#FIL
Around key price levels, I usually look at three things:
① Close: An intraday touch doesn’t count; it’s a genuine breakout only if the entire candlestick closes above 1.1;
② Retest: Can the price hold near 1.1 on a pullback? If it does, resistance has turned into support;
③ Volume: Did volume pick up during the breakout? A breakout on declining volume is more likely to be reversed.
#FIL