$BTW breaks through the 1.7 mark!
Take a couple of seconds to stay calm and understand the significance of this round-number level first.
Since it’s been longer since the price last reached this level, the distribution of positions around here has often changed considerably. The balance of bullish and bearish forces from before may no longer hold.
Many people use key levels as a reference for managing risk: which side of the level they hold positions on and where they set their stop-losses is more practical than guessing which way prices will move.
Don’t chase trades during the few minutes when the market is moving fastest. Wait for the price to settle before taking another look.
#BTW
Don’t take what I say as investment advice.
Take a couple of seconds to stay calm and understand the significance of this round-number level first.
Since it’s been longer since the price last reached this level, the distribution of positions around here has often changed considerably. The balance of bullish and bearish forces from before may no longer hold.
Many people use key levels as a reference for managing risk: which side of the level they hold positions on and where they set their stop-losses is more practical than guessing which way prices will move.
Don’t chase trades during the few minutes when the market is moving fastest. Wait for the price to settle before taking another look.
#BTW
Don’t take what I say as investment advice.