$UNI fell below the 7.5 level.
Everyone, how should we understand support and resistance? Here’s a quick explanation 👇
Support and resistance are really price ranges, not one exact price. It’s normal for prices to test the area repeatedly.
When a price returns to a level after several days, it often meets people who entered around that price before and are now selling to break even or adding to their positions, so trading activity tends to cluster there.
Indicators can be wrong, but stop-losses are essential: think ahead about what you’ll do if you’re wrong—it matters more than whether your prediction is spot-on.
#UNI
Everyone, how should we understand support and resistance? Here’s a quick explanation 👇
Support and resistance are really price ranges, not one exact price. It’s normal for prices to test the area repeatedly.
When a price returns to a level after several days, it often meets people who entered around that price before and are now selling to break even or adding to their positions, so trading activity tends to cluster there.
Indicators can be wrong, but stop-losses are essential: think ahead about what you’ll do if you’re wrong—it matters more than whether your prediction is spot-on.
#UNI