What is a Failed Breakout?
A failed breakout is when price momentarily breaks through the support or resistance level, but is quickly rejected. The market usually falls back into the price channel it was in before after a failed breakout, sometimes it breaks down below the price channel. And it can be fast. If it breaks the channel to the downside, it'll reach 128.50 first...
A failed breakout is when price momentarily breaks through the support or resistance level, but is quickly rejected. The market usually falls back into the price channel it was in before after a failed breakout, sometimes it breaks down below the price channel. And it can be fast. If it breaks the channel to the downside, it'll reach 128.50 first...