Indicator Notes | $WAL | Breaks below the 0.055 level
Definition: The longer it has been since the price last reached this level, the more the distribution of positions in this area is likely to have changed. The support or resistance from back then may no longer be valid.
How to read it: When the price returns to a level after many days, it often meets buyers who entered in this area before and are looking to break even and exit or add to their positions. Trading activity usually picks up as a result.
Learning to read indicators isn’t hard. The hard part is sticking to your plan when emotions are running especially high.
Definition: The longer it has been since the price last reached this level, the more the distribution of positions in this area is likely to have changed. The support or resistance from back then may no longer be valid.
How to read it: When the price returns to a level after many days, it often meets buyers who entered in this area before and are looking to break even and exit or add to their positions. Trading activity usually picks up as a result.
Learning to read indicators isn’t hard. The hard part is sticking to your plan when emotions are running especially high.