🐋 $SUI has lost the 1 level.
Large numbers of orders often cluster around round numbers. Let’s first talk about how these levels can matter.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some argue that repeated tests can also weaken the orders sitting there.
Many people use key levels as anchors for position management: which side of the level to hold a position on and where to place a stop-loss are more practical considerations than trying to guess the direction.
Indicators can fail, but stop-losses shouldn’t be skipped. Deciding in advance what to do if you’re wrong matters more than guessing correctly.
#SUI
Large numbers of orders often cluster around round numbers. Let’s first talk about how these levels can matter.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some argue that repeated tests can also weaken the orders sitting there.
Many people use key levels as anchors for position management: which side of the level to hold a position on and where to place a stop-loss are more practical considerations than trying to guess the direction.
Indicators can fail, but stop-losses shouldn’t be skipped. Deciding in advance what to do if you’re wrong matters more than guessing correctly.
#SUI