MMBTtrader

Support zone instead of simple support (Bitcoin fake breakouts)

Education
MMBTtrader Updated   
BITSTAMP:BTCUSD   Bitcoin
Sometimes just a simple line is not working and this is the time that zone gets its meaning.

so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some support and resistance zones instead of simple support and resistance.

here take look at the Bitcoin example in previous weeks:
But let's take look at the 30K support zone instead of the 30K support:

and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:
But let's take look at the 1.2060 support zone instead of the 1.2060 support:

<<👍hope you enjoy👍 >>
Comment:
Notice: As we talked about it in the previous analysis too, fake breakouts are strong reversal patterns like now that bitcoin is still pumping.

My Free telegram channel:
t.me/mmbtchannel

VIP channels:
Forex:+400 Pips and Crypto +245% monthly PROFIT VIP CHANNELS.
check the pinned message in telegram for more info and plans.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.