$SIREN fell below the 0.027 level.
When I first got into trading, I didn’t understand why everyone paid so much attention to round-number levels. Later, I figured it out: traders like to place orders and stop-losses around round numbers, so orders cluster in these areas and trading activity naturally becomes more concentrated. Over time, they become psychological levels.
The same data can mean very different things in different market conditions, so don’t blindly apply a single rule of thumb.
When I first got into trading, I didn’t understand why everyone paid so much attention to round-number levels. Later, I figured it out: traders like to place orders and stop-losses around round numbers, so orders cluster in these areas and trading activity naturally becomes more concentrated. Over time, they become psychological levels.
The same data can mean very different things in different market conditions, so don’t blindly apply a single rule of thumb.