$UNI broke through the 7 level.
Let’s use this data to talk about round-number levels.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some argue that repeated tests can actually weaken the support there.
When a price returns to a level after a long time, people who bought around that level before may try to exit at breakeven or add to their positions, so trading activity often becomes concentrated there.
Understanding this indicator is about avoiding being swayed by a single number, not using it to predict tops and bottoms.
#UNI
Don’t treat any of this as a basis for making trades.
Let’s use this data to talk about round-number levels.
The more often a price level is tested, the more significant it tends to become in traders’ eyes. But some argue that repeated tests can actually weaken the support there.
When a price returns to a level after a long time, people who bought around that level before may try to exit at breakeven or add to their positions, so trading activity often becomes concentrated there.
Understanding this indicator is about avoiding being swayed by a single number, not using it to predict tops and bottoms.
#UNI
Don’t treat any of this as a basis for making trades.