Technical Note｜$IDOL ｜Lost the 0.02 Level
Definition: The longer it has been since the price last reached this level, the more the positioning structure around it is likely to have changed. Past support and resistance may no longer hold.
A common interpretation: It is quite common for the price to break through a level and then fall back below it. Many people therefore prefer to wait for the candle to close and hold above the level before counting it as a breakout, rather than chasing the price the moment it crosses.
An unusually rare reading usually signals greater volatility. At times like these, it is better to reduce leverage rather than add to your position.
Definition: The longer it has been since the price last reached this level, the more the positioning structure around it is likely to have changed. Past support and resistance may no longer hold.
A common interpretation: It is quite common for the price to break through a level and then fall back below it. Many people therefore prefer to wait for the candle to close and hold above the level before counting it as a breakout, rather than chasing the price the moment it crosses.
An unusually rare reading usually signals greater volatility. At times like these, it is better to reduce leverage rather than add to your position.