🐋 $TRUTH breaks through the 0.02 level.
There are often plenty of orders around round numbers. Let’s first talk about why key price levels matter.
Round-number levels attract attention because traders like to place orders and take-profit levels near them. Orders tend to cluster around these prices, which is why they’re also called psychological levels.
Breaking through a level only means that one side has the upper hand for the moment. How much further the price can go depends on where the next level is and whether the funds keep flowing.
Indicators may be wrong, so don’t skip your stop-loss: it’s more important to decide in advance what you’ll do if you’re wrong than to guess whether you’ll be right.
There are often plenty of orders around round numbers. Let’s first talk about why key price levels matter.
Round-number levels attract attention because traders like to place orders and take-profit levels near them. Orders tend to cluster around these prices, which is why they’re also called psychological levels.
Breaking through a level only means that one side has the upper hand for the moment. How much further the price can go depends on where the next level is and whether the funds keep flowing.
Indicators may be wrong, so don’t skip your stop-loss: it’s more important to decide in advance what you’ll do if you’re wrong than to guess whether you’ll be right.