Market Notes｜$LYN ｜Failed to hold the 0.02 level
Definition: The previous high and low are the most commonly used key price levels. The memory of price being rejected or supported at those levels last time often influences buying and selling when it returns there.
How to read it: When price moves back and forth across a key level, traders on either side can get shaken out. It’s often best to stay on the sidelines until the direction becomes clear.
Don’t chase a trade during the sharpest moment of volatility. Wait for the price to stabilize before reassessing.
Definition: The previous high and low are the most commonly used key price levels. The memory of price being rejected or supported at those levels last time often influences buying and selling when it returns there.
How to read it: When price moves back and forth across a key level, traders on either side can get shaken out. It’s often best to stay on the sidelines until the direction becomes clear.
Don’t chase a trade during the sharpest moment of volatility. Wait for the price to stabilize before reassessing.
