Indicator Notes｜$NVDAB ｜Breaking above the 190 level
First, the definition: One pattern is that a resistance level that has been decisively broken often becomes support afterward; a support level that has been decisively broken downward often becomes resistance afterward.
A common interpretation: The first pullback after breaking above a level is often seen as a test. If the price can hold near that level, the idea that resistance has turned into support becomes more convincing.
Avoid placing orders during the most volatile few minutes of a move. Wait for the price to settle before deciding.
First, the definition: One pattern is that a resistance level that has been decisively broken often becomes support afterward; a support level that has been decisively broken downward often becomes resistance afterward.
A common interpretation: The first pullback after breaking above a level is often seen as a test. If the price can hold near that level, the idea that resistance has turned into support becomes more convincing.
Avoid placing orders during the most volatile few minutes of a move. Wait for the price to settle before deciding.