A note: $BTW has fallen below the 1.8 level.
People often ask what a round-number level means. Here’s how I understand it.
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. The support or resistance from back then may no longer hold.
When the price returns to a level after many days, people who bought around there previously may sell to break even or add to their positions, so trading tends to become more active.
Keep extra margin for futures positions. Don’t let one sudden swing liquidate your position.
#BTW
People often ask what a round-number level means. Here’s how I understand it.
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. The support or resistance from back then may no longer hold.
When the price returns to a level after many days, people who bought around there previously may sell to break even or add to their positions, so trading tends to become more active.
Keep extra margin for futures positions. Don’t let one sudden swing liquidate your position.
#BTW