$INJ breaks through the 8 mark.
I used to wonder why everyone paid attention to round-number levels. Then I understood: traders tend to place orders and take-profit levels around round numbers, so orders pile up and buying and selling naturally intensify near those levels, gradually turning them into psychological barriers.
It’s not uncommon for prices to break through a level and then retreat, so many people wait for confirmation at the close rather than chasing the move the moment it breaks through.
Cross-checking several indicators is more reliable than looking at just one, but even more signals can’t provide a definitive answer.
I used to wonder why everyone paid attention to round-number levels. Then I understood: traders tend to place orders and take-profit levels around round numbers, so orders pile up and buying and selling naturally intensify near those levels, gradually turning them into psychological barriers.
It’s not uncommon for prices to break through a level and then retreat, so many people wait for confirmation at the close rather than chasing the move the moment it breaks through.
Cross-checking several indicators is more reliable than looking at just one, but even more signals can’t provide a definitive answer.