$EVAA broke below the 1.3 level.
A beginner's big question: How should we understand support and resistance?
Previous highs and lows are commonly used key price levels. The fact that prices were turned back or supported at these levels before often affects buying and selling when prices return to them.
When prices revisit a level after several days, people who bought around that level previously may break even and exit or add to their positions, so trading is usually more active.
All indicators only describe market movements that have already happened; prices can absolutely move in the opposite direction.
#EVAA
A beginner's big question: How should we understand support and resistance?
Previous highs and lows are commonly used key price levels. The fact that prices were turned back or supported at these levels before often affects buying and selling when prices return to them.
When prices revisit a level after several days, people who bought around that level previously may break even and exit or add to their positions, so trading is usually more active.
All indicators only describe market movements that have already happened; prices can absolutely move in the opposite direction.
#EVAA