Market Notes｜$GTC ｜Breaking through the 0.3 level
Definition: A level that has been decisively broken above often turns into support later on; a support level that has been decisively broken below often turns into resistance later on.
How to read it: When prices are seesawing around a key level, traders on both sides can easily get shaken out repeatedly. Keeping positions small may be the better approach until the direction becomes clear.
Calculating position size based on where you place your stop-loss is far more reliable than setting it by feel.
Definition: A level that has been decisively broken above often turns into support later on; a support level that has been decisively broken below often turns into resistance later on.
How to read it: When prices are seesawing around a key level, traders on both sides can easily get shaken out repeatedly. Keeping positions small may be the better approach until the direction becomes clear.
Calculating position size based on where you place your stop-loss is far more reliable than setting it by feel.