š $BIRB has lost the 0.07 level.
A lot of orders tend to cluster around key levels. Letās first talk about why they can matter.
The more times a price level is tested, the more significance it often has in tradersā minds. But some believe repeated tests can also weaken the support there.
Many people use key levels as a reference for managing positions: which side to trade on and where to set a stop-loss can be more practical than predicting whether prices will rise or fall.
The same reading can mean very different things in different market conditions, so donāt apply a single rule mechanically.
#BIRB
A lot of orders tend to cluster around key levels. Letās first talk about why they can matter.
The more times a price level is tested, the more significance it often has in tradersā minds. But some believe repeated tests can also weaken the support there.
Many people use key levels as a reference for managing positions: which side to trade on and where to set a stop-loss can be more practical than predicting whether prices will rise or fall.
The same reading can mean very different things in different market conditions, so donāt apply a single rule mechanically.
#BIRB