📌 Data: $AKE | Break above the 0.005 level
· Definition: One rule of thumb is that a resistance level that is decisively broken often becomes support later on; a support level that is decisively broken often turns into resistance.
· Common interpretation: The first pullback after a breakout is often seen as a litmus test: if the price stabilizes above the level, the case for resistance turning into support becomes stronger.
Sizing your position based on the stop-loss distance is much more reliable than placing trades by feel.
#AKE
Make your own decisions about entries and exits; don't follow blindly.
· Definition: One rule of thumb is that a resistance level that is decisively broken often becomes support later on; a support level that is decisively broken often turns into resistance.
· Common interpretation: The first pullback after a breakout is often seen as a litmus test: if the price stabilizes above the level, the case for resistance turning into support becomes stronger.
Sizing your position based on the stop-loss distance is much more reliable than placing trades by feel.
#AKE
Make your own decisions about entries and exits; don't follow blindly.