$BTW breaks through the 1.7 level.
A lot of stop-loss orders tend to cluster around round-number levels, so let’s first talk about why these levels matter.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some say repeated tests can also deplete the orders resting there.
When a price returns to a level after several days, it often meets traders who entered around that level earlier and are now looking to break even or add to their positions, so trading volume can become concentrated.
Indicators can fail, but you should never skip a stop-loss: deciding in advance what to do if you’re wrong is more important than guessing correctly.
A lot of stop-loss orders tend to cluster around round-number levels, so let’s first talk about why these levels matter.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some say repeated tests can also deplete the orders resting there.
When a price returns to a level after several days, it often meets traders who entered around that level earlier and are now looking to break even or add to their positions, so trading volume can become concentrated.
Indicators can fail, but you should never skip a stop-loss: deciding in advance what to do if you’re wrong is more important than guessing correctly.