A quick note: $US fell below the 0.007 level.
People often ask what key price levels mean. Here’s how I understand them.
Common ways to judge whether a break below a level counts include: the close is on the other side of the level, a retest fails to reclaim it, and trading volume picks up during the breakout.
Crossing a level only means that one side has the upper hand at that moment. How far the move goes afterward also depends on where the next key level is and whether the flow of funds can continue.
Indicators can be wrong, but risk management can’t be neglected: deciding in advance what to do if you’re wrong matters more than guessing correctly.
People often ask what key price levels mean. Here’s how I understand them.
Common ways to judge whether a break below a level counts include: the close is on the other side of the level, a retest fails to reclaim it, and trading volume picks up during the breakout.
Crossing a level only means that one side has the upper hand at that moment. How far the move goes afterward also depends on where the next key level is and whether the flow of funds can continue.
Indicators can be wrong, but risk management can’t be neglected: deciding in advance what to do if you’re wrong matters more than guessing correctly.