$ELSA breaks through the 0.08 level.
Let’s talk about what lies behind this number.
It’s been longer since the price last reached this level, so the distribution of positions around here may have changed long ago, and the balance of bullish and bearish forces from the past may no longer hold.
The first rebound after losing the level is often seen as a litmus test: if the price is turned back near the level, the idea that support has become resistance is more likely to hold.
Indicators can be wrong, so don’t skip your stop-loss: deciding in advance what to do if your judgment is wrong matters more than whether your prediction is right.
Let’s talk about what lies behind this number.
It’s been longer since the price last reached this level, so the distribution of positions around here may have changed long ago, and the balance of bullish and bearish forces from the past may no longer hold.
The first rebound after losing the level is often seen as a litmus test: if the price is turned back near the level, the idea that support has become resistance is more likely to hold.
Indicators can be wrong, so don’t skip your stop-loss: deciding in advance what to do if your judgment is wrong matters more than whether your prediction is right.