Market Notes | $EVAA | Breaking through the 1 level
First, a definition: support and resistance are more like zones than precise price points, so it’s perfectly normal for prices to test this area repeatedly.
A common way to read this: when a price returns to a level after a long time, people who entered around that level before may sell to break even or add to their positions, so trading activity often becomes concentrated there.
Leave plenty of room for your futures positions. Don’t let a single wick knock you out of a trade.
#EVAA
First, a definition: support and resistance are more like zones than precise price points, so it’s perfectly normal for prices to test this area repeatedly.
A common way to read this: when a price returns to a level after a long time, people who entered around that level before may sell to break even or add to their positions, so trading activity often becomes concentrated there.
Leave plenty of room for your futures positions. Don’t let a single wick knock you out of a trade.
#EVAA
