🐋 $QNT has fallen below the 200 mark.
A lot of orders tend to cluster around round numbers, so let’s first talk about why these levels matter.
Previous highs and lows are the most common key price levels: being turned back or supported there in the past often influences decisions when the price reaches that level again.
Breaking through a key level only means one side has the upper hand at that moment. Whether the move can continue depends on where the next levels are and whether trading volume can be sustained.
Indicators can be wrong, but risk management shouldn’t be skipped: thinking ahead about what to do if your judgment is wrong matters more than predicting correctly.
A lot of orders tend to cluster around round numbers, so let’s first talk about why these levels matter.
Previous highs and lows are the most common key price levels: being turned back or supported there in the past often influences decisions when the price reaches that level again.
Breaking through a key level only means one side has the upper hand at that moment. Whether the move can continue depends on where the next levels are and whether trading volume can be sustained.
Indicators can be wrong, but risk management shouldn’t be skipped: thinking ahead about what to do if your judgment is wrong matters more than predicting correctly.
