Market Notes｜$BULLA ｜Breaking through the 0.035 level
First, a definition: The more frequently a price level is tested, the more weight it tends to carry in people’s eyes. However, some believe repeated tests may also thin out the orders placed there.
How to read it: The first pullback after a breakout is often seen as a litmus test. If price can hold above the level, the idea that resistance has turned into support becomes more convincing.
An unusually rare reading often signals a wider swing. At such times, it’s better to reduce leverage rather than increase your position.
#BULLA
First, a definition: The more frequently a price level is tested, the more weight it tends to carry in people’s eyes. However, some believe repeated tests may also thin out the orders placed there.
How to read it: The first pullback after a breakout is often seen as a litmus test. If price can hold above the level, the idea that resistance has turned into support becomes more convincing.
An unusually rare reading often signals a wider swing. At such times, it’s better to reduce leverage rather than increase your position.
#BULLA