$JCT has fallen below the 0.002 level.
I used to wonder why everyone watched round-number levels. Later, I realized there’s nothing special about the levels themselves; it’s just that so many people watch them and place orders around them, making price movements more pronounced when the price reaches that area.
The first pullback after breaking above a level is often seen as a test: if the price can stabilize above it, the idea that resistance has turned into support becomes more convincing.
Understanding this indicator is meant to keep a single number from spooking you—not to help you pinpoint tops and bottoms.
I used to wonder why everyone watched round-number levels. Later, I realized there’s nothing special about the levels themselves; it’s just that so many people watch them and place orders around them, making price movements more pronounced when the price reaches that area.
The first pullback after breaking above a level is often seen as a test: if the price can stabilize above it, the idea that resistance has turned into support becomes more convincing.
Understanding this indicator is meant to keep a single number from spooking you—not to help you pinpoint tops and bottoms.