$AKE fell below the 0.03 level.
Let’s use this figure to break down how round-number levels work.
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. The support or resistance from back then may no longer hold.
When the price chops back and forth around a key level, stops on both sides may get swept repeatedly. It may be better to trade less until the direction becomes clear.
The same reading can mean very different things in different market conditions, so don’t blindly apply a rule of thumb.
#AKE
Let’s use this figure to break down how round-number levels work.
The longer it’s been since the price last reached this level, the more the distribution of positions around it may have changed. The support or resistance from back then may no longer hold.
When the price chops back and forth around a key level, stops on both sides may get swept repeatedly. It may be better to trade less until the direction becomes clear.
The same reading can mean very different things in different market conditions, so don’t blindly apply a rule of thumb.
#AKE