🐋 $ZRO has broken through the 1.9 level.
There are often plenty of stop-loss orders around key levels, so let’s first talk about why these price levels matter.
Support and resistance are really zones, not exact prices, so it’s normal for prices to move back and forth within these areas.
The first pullback after a breakout is often seen as a test: if the price can stabilize above the level, the idea that resistance has turned into support becomes more convincing.
Sizing your position based on the stop-loss distance is much more reliable than going by feel.
There are often plenty of stop-loss orders around key levels, so let’s first talk about why these price levels matter.
Support and resistance are really zones, not exact prices, so it’s normal for prices to move back and forth within these areas.
The first pullback after a breakout is often seen as a test: if the price can stabilize above the level, the idea that resistance has turned into support becomes more convincing.
Sizing your position based on the stop-loss distance is much more reliable than going by feel.