Latest data: $USELESS | Break above the 0.16 level
What it means: The more frequently a certain price level is tested, the more weight it tends to carry in traders’ minds. However, some believe that repeated tests can also deplete the orders resting at that level.
How to read it: Breaking through a level only shows that one side has the upper hand for now. How much further the price can go depends on where the next level is and whether trading volume can keep up.
Don’t let a single number throw off your rhythm, and don’t use borrowed money to test a hunch.
#USELESS
What it means: The more frequently a certain price level is tested, the more weight it tends to carry in traders’ minds. However, some believe that repeated tests can also deplete the orders resting at that level.
How to read it: Breaking through a level only shows that one side has the upper hand for now. How much further the price can go depends on where the next level is and whether trading volume can keep up.
Don’t let a single number throw off your rhythm, and don’t use borrowed money to test a hunch.
#USELESS