$ELSA fell below the 0.08 level.
Everyone, what do support and resistance mean? Here’s a quick explanation👇
Round-number levels attract attention mainly because people tend to place orders and take-profit points around them, so orders often cluster in those areas. That’s why they’re also called psychological levels.
It’s not uncommon for prices to break through a level and then fall back, so many people wait for the close to confirm that price has held above it rather than jumping in the moment it breaks through.
Extreme readings usually come with sharper swings. At times like these, it’s better to reduce leverage rather than add to your position.
Everyone, what do support and resistance mean? Here’s a quick explanation👇
Round-number levels attract attention mainly because people tend to place orders and take-profit points around them, so orders often cluster in those areas. That’s why they’re also called psychological levels.
It’s not uncommon for prices to break through a level and then fall back, so many people wait for the close to confirm that price has held above it rather than jumping in the moment it breaks through.
Extreme readings usually come with sharper swings. At times like these, it’s better to reduce leverage rather than add to your position.