Meme alert: $BIRB has breached the 0.1 level.
To a candlestick chart, a whole-number level is just a number; to people, it’s a psychological line of defense.
A quick serious explainer: a support level is an area where the price has been held up several times on the way down. A resistance level is an area the price has repeatedly failed to rise above.
Sizing your position based on the stop-loss distance is much more reliable than going by gut feel.
To a candlestick chart, a whole-number level is just a number; to people, it’s a psychological line of defense.
A quick serious explainer: a support level is an area where the price has been held up several times on the way down. A resistance level is an area the price has repeatedly failed to rise above.
Sizing your position based on the stop-loss distance is much more reliable than going by gut feel.