I published an idea for this UK stock here where you can see
price was just touching the at the £1.00 round number level.
This level did cause a brief barrier for price as it hesitated before smashing through that level with a large candle.
The mistake a lot of traders make is to jump into a trade too quickly only to see they have entered on a fake breakout.
The best action for traders to take here is to wait for the next breakout before considering any long trades. We would like to see if price
will stay above the £1.00 psychological level.
Sometimes price comes back to retest round numbers after breaking through them. If we see another breakout then that will
confirm for us that the buyers are winning the battle over the sellers.
This stock may be ready to trade sooner than we think so keep it on your watchlist and take action at the appropriate time.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!