Market Notes｜$BIRB ｜Lost the 0.08 level
First, a definition: Previous highs and lows are common reference levels. Past attempts to rise above or fall below them can influence buying and selling when the price returns to those levels.
Next, how to read it: When prices swing back and forth near a key level, both bulls and bears can easily get shaken out. It may be better to stay on the sidelines or trade lightly until the direction becomes clear.
Don’t chase trades during the most volatile few minutes. Wait for the price action to play out before deciding.
First, a definition: Previous highs and lows are common reference levels. Past attempts to rise above or fall below them can influence buying and selling when the price returns to those levels.
Next, how to read it: When prices swing back and forth near a key level, both bulls and bears can easily get shaken out. It may be better to stay on the sidelines or trade lightly until the direction becomes clear.
Don’t chase trades during the most volatile few minutes. Wait for the price action to play out before deciding.