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Fakeout

Bitcoin - Will History Repeat Itself Again?📈Bitcoin continues to follow a remarkably similar path to its previous market cycles. Each major bullish impulse has been followed by a controlled correction, a fakeout towards the lower trendline, and then a strong rebound toward new highs. Looking closely at the current structure, BTC seems to be retesting the lower bound of its long-term rising channel, a pattern that played out multiple times before every major leg up. ⚔️If history repeats itself, this fakeout could mark the final shakeout before the next macro rally, with a potential reversal forming between late November and early January. 🏹From there, the next impulsive wave could push price toward the upper boundary of the channel, around the $150,000–$160,000 zone, aligning perfectly with Bitcoin’s long-term cyclical rhythm. The big question remains: will history rhyme once again, or is this time different? ⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly. 📊All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
10
Breakout or Fake-Out — Corn’s Price Action Under the Microscope1. When Breakouts Lie Few things in trading are more exciting than a clean breakout. But for every breakout that soars, there’s another that fakes out and traps eager traders. Corn Futures (ZC) on the 8-hour chart just gave us that classic test — a breakout from a falling wedge that has traders asking: Is this the real thing, or another false alarm? The pattern looks textbook. Price compressed lower within a wedge and broke above its upper trendline. However, the true strength of any breakout lies not in the pattern itself, but in the story told by volume and order flow. That’s what we’ll unpack in this article — using ZC (Corn Futures) and MZC (Micro Corn Futures) as our guide. 2. The Falling Wedge in Focus Falling wedges often represent market exhaustion, where selling pressure slows and buyers quietly begin to accumulate positions. On the Corn Futures 8-hour chart, price has indeed pushed beyond the wedge’s descending resistance line — the visual signal that usually excites breakout traders. But structure alone doesn’t make a sustainable move. Beneath the surface, the UFO support and resistance levels — zones of UnFilled Orders — provide the invisible scaffolding that can support or reject price movement. In this case: Support Zone: 418–411 Resistance Levels: 430 and 442 These areas represent pending potential new support and resistance areas where buy and sell orders that can act as launchpads or barriers. The key is to see how the market interacts with them while volume builds or fades. 3. The Volume Delta Story Here’s where things get interesting. Volume Delta — the difference between buy and sell volume — shows us who’s winning the tug-of-war between buyers and sellers. During the wedge formation, the maximum delta reached +1.05K, indicating meaningful buying activity despite the downtrend. But as the breakout unfolded, delta turned slightly negative. In plain terms, fewer new buyers are stepping in — and without new buying energy, breakouts often lose traction. That’s a classic setup for a potential fake-out: price pokes above the wedge, but order flow doesn’t confirm. This mismatch between technical breakout and volume delta is often the canary in the coal mine for fading momentum. 4. The Trade Logic — Let the Market Come to You Instead of chasing the breakout, the smarter play here could be to wait for the market to revisit demand/support. Why? Because that’s where new volume tends to enter — where pending buy orders (the UFOs) become filled, strengthening the delta and giving the move fresh fuel. A potential plan might look like this: Entry: 418 (within support) Stop-Loss: 411 (below the zone) Target 1: 430 (first resistance, partial exit) Target 2: 442 (final resistance, full exit) This setup maintains a clear reward-to-risk ratio above 3:1, assuming disciplined execution and volatility-adjusted sizing. It’s not about prediction — it’s about preparation. Waiting for retracement allows participation in a confirmed move, rather than reacting to emotional excitement at the breakout. 5. Contract Specifications & Margin Requirements Understanding your instrument is as important as reading your chart. Here’s what traders should know about these CME-listed Corn contracts: ZC – Corn Futures (Standard Contract) Contract Size: 5,000 bushels Tick Size: ¼ cent per bushel (0.0025) → Tick Value = $12.50 Approx. Margin: Around $1,000 USD, varying by broker and volatility MZC – Micro Corn Futures Contract Size: 500 bushels (1/10th of ZC) Tick Size: ½ cent per bushel (0.0050) → Tick Value = $2.50 Approx. Margin: Around $100 USD, varying by broker and subject to market conditions Micro contracts allow smaller-scale traders to apply the same analysis and structure as the full-size contract, but with controlled risk exposure — a major advantage for capital management. 6. When New Volume is Injected in the Market Think of Volume Delta as a glance in the rear-view mirror — it tells us what’s already been filled. On the other hand, analyzing support and resistance levels with the idea of where new unfilled orders might come in helps us prepare to enter trades just before momentum potentially reactivates. When both are combined: Rising delta confirms a healthier follow-through on breakouts. Negative delta near resistance warns of a likely fading move. Key support and resistance zones show where resting orders could inject new volume. 7. Risk Management — Protect Before You Project Every solid trade plan starts with a stop. For this setup, a logical stop below 411 ensures protection if the wedge breakout fails completely. Scaling out at 430 reduces exposure early, locking gains in case the move stalls. Always size positions relative to account equity and volatility — the most underrated edge in trading is survival. The best traders don’t just hunt profits — they hunt consistency. Managing risk transforms a potentially stressful market environment into a structured decision process. 8. CME Context & Final Thoughts Both ZC and MZC are cornerstone agricultural contracts traded on the CME Group’s CBOT exchange, giving traders exposure to one of the world’s most economically significant commodities. While the setup we’ve explored is a case study, the takeaway extends beyond Corn: Breakouts need participation. Volume confirms conviction. Key support and resistance levels reveal intention. In markets where fake-outs are common, aligning technical structure, order flow, and patient trade planning gives traders the clearest edge of all — confidence grounded in data, not emotion. When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com - This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies. General Disclaimer: The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
CBOT:ZC1!
by traddictiv
BTC – Fakeout Before the Big Breakout!Bitcoin has been repeating a familiar pattern: - Fakeouts below key support zones, trapping early sellers. - Breakouts back above structure, followed by strong impulsive moves. We’ve already seen this sequence twice in the past months, and BTC might be setting up for it once again. Price faked out below support, reclaimed it, and is now eyeing a breakout from the falling channel. 🔁If history rhymes, the next leg could trigger a powerful impulse toward new highs. Traders should keep an eye on the $112,000–$114,000 zone — a breakout from here could be the spark for the next rally. Is BTC about to repeat its playbook? 👀 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
19
Breakout vs Fakeout: How to Spot the DifferenceHello, Traders! 🖖🏻 There’s probably no phrase that triggers more mixed emotions in crypto trading than: “Looks like we’re breaking out!”. Because let’s be honest…For every clean breakout that follows through with momentum… …there’s a fakeout waiting to trap overconfident entries. So, how do you tell the difference? Let’s break it down! 🧱 What Is a Breakout? A breakout occurs when the price moves decisively beyond a key level, such as support, resistance, a trendline, or a range boundary, and holds. What makes it a REAL breakout? Volume Expansion: More participants step in as the price moves through the level. Strong Candle Closes: Especially on higher timeframes like 4H or 1D. Follow-Through: The market doesn’t just poke above the level. It builds on it. No Immediate Rejection: You don’t see a sharp wick straight back below. Example from BTC (2021): Look back at January to February 2021. BTC had been stuck under the $42K–$43K resistance for weeks. Every push got sold off, until it didn’t. When the breakout finally came, it was clean. The massive daily candle closed right through the level. Volume exploded. And there wasn’t even a polite little retest, price just launched straight toward $58K, leaving anyone waiting for a pullback completely behind. Pure trend breakout energy. Everything lined up: the context, the volume, the structure — textbook 🤌🏻 🪤 What Is a Fakeout? A fakeout, on the other hand, looks like a breakout… until it isn’t. The price briefly moves beyond a key level, but then snaps back inside the range, often trapping late buyers (or sellers) and triggering stop-losses. Common Signs of a FAKEOUT: Low or Declining Volume (at the breakout moment). Quick Rejection with a Long Wick (especially on intraday charts). Failure to Hold Above the Level on Retest. Divergence Between Timeframes: For example, a 15M breakout that looks strong while the 4H still shows consolidation. Classic BTC example: This one was sneaky! After BTC hit its all-time high around $65K, the market started looking shaky. Price tried to recover by pushing back into the $58K–$60K zone, a pretty critical level at the time. It looked like a breakout attempt… but something was off. No real volume. No strong candle closes. And then, BOOM, hard rejection. The price popped just enough above resistance to lure in breakout traders (and probably clear out some stop-losses)… then completely reversed. And not just a minor pullback, this fakeout basically triggered the entire leg down toward $30K. Classic liquidity grab. The kind of move that looks like strength for a second… until it absolutely isn’t. 🕵️‍♂️ Key Differences: Breakout vs Fakeout (Checklist) 🧠 What Causes Fakeouts in Crypto? Honestly, fakeouts aren’t some kind of accident. They’re almost baked into how crypto markets work. Part of it comes down to simple liquidity hunting. The market knows exactly where traders tend to place their stop losses, right above resistance or just below support. Price often spikes into those zones, triggers stops, fills larger orders for bigger players… and then reverses completely. Another reason? A lack of real conviction. Sometimes, it’s mostly retail traders chasing a move. Price pokes above a key level, but there just isn’t enough momentum to sustain it. Without bigger buyers or sellers stepping in, the move collapses right back. And let’s be honest. When everyone on Crypto Twitter is watching the exact same level, fakeouts become almost inevitable. The more obvious the setup, the more likely it gets front-run, faded, or manipulated. Plus, a huge mistake? People ignore the higher timeframe context. A breakout on the 15-minute chart might feel exciting… but if the 1D or 4H is still clearly in a downtrend, that breakout is fighting against the bigger picture. No surprise it fails. Fakeouts happen because the market’s job is to make most people wrong, at least for a moment. 🧭 Final Thought Breakouts and fakeouts are part of the same game: they involve both liquidity and psychology. The market rewards patience, context, and waiting for confirmation. Sometimes, missing the first candle can save you from being a liability to someone else. So, next time an asset “breaks out,” take a second look. Is it really moving with force? Or is it just another trap waiting to be sprung? What’s the last fakeout that caught you off guard? Drop your story in the comments. Let’s compare lessons learned!
Education
by WhiteBIT
6
Anatomy of a Breakout: How to Spot It Before It Fakes You OutFew things in trading are as appealing as a breakout. The chart tightens, volume starts to stir, headlines align, your alerts start going off , and suddenly — boom! Price explodes above resistance. Your adrenaline spikes and you pop open that long. But just as often, that breakout turns out to be nothing more than an expensive head fake. Price stalls. Sellers swoop in. Your stop gets clipped. And now you’re sitting there, blinking at your screen, “Welp… that was quick.” Welcome to the bittersweet world of breakouts — where opportunity and deception dance like partners at a high-stakes poker table. 📢 What Is a Breakout, Really? Let’s get the basics out of the way: A breakout happens when price pushes beyond a key support or resistance level that’s been holding for a while. That level could be a previous high, a consolidation range, a trendline, or a psychological number that traders obsess over because humans love round numbers (did someone say Bitcoin BITSTAMP:BTCUSD at $120,000 ?). The logic is simple: Once price clears a well-watched level, trapped shorts have to cover, new longs pile in, and momentum feeds on itself. That’s the dream scenario. But markets aren’t always that generous. For every clean breakout, there are a few fakeouts lurking — luring in overeager traders with the promise of easy money before slamming the door shut. ⚠️ Why Breakouts May Fail If breakouts were easy, we’d all be rich. The problem is that breakouts attract a special kind of crowd: late-to-the-party momentum chasers, breakout algorithm bots, and retail traders who read one blog post about technical analysis. The moment price nudges above resistance, FOMO kicks in. Volume surges. But if the move isn’t backed by genuine institutional buying (you need lots of billions to move the needle nowadays), it quickly becomes what seasoned traders call a “liquidity vacuum” — thin air where the only participants are you, a few equally optimistic Reddit threads, and market makers more than happy to take the other side. Sometimes breakouts fail because: The move lacked volume confirmation. Macro headlines shifted mid-breakout. A key level was front-run, and the real buyers have already taken profit. It was a deliberate trap set by larger players to hunt stops before reversing. Or — more often — the market just needed an excuse to shake out weak hands before resuming the actual move later. 🍸 Volume: The Truth Serum Let’s be very clear: Breakouts without volume are like dating profiles without photos — you should be suspicious. When real breakouts occur, you’ll usually see strong accompanying volume. That’s your proof that big players — funds, institutions, serious money — are committing to the move. No volume? Maybe the summer vibes are already here . Smart traders wait for confirmation: Is volume above average relative to recent sessions? Is price holding above the breakout level after the initial pop? Are follow-through candles printing convincingly? Are we seeing continuation across related sectors or instruments? Without these signs, that breakout candle may just be a cruel joke. 🤯 Breakout Psychology Breakouts prey on two of the most dangerous emotions in trading: greed and urgency. The market whispers, “If you don’t get in now, you’ll miss it.” This is where breakout psychology becomes more dangerous than the chart itself. Once a breakout happens, most traders are no longer analyzing — they’re reacting. They buy late, set tight stops below the breakout level, and become easy prey for stop-hunting algorithms. ✨ Types of Breakouts Not all breakouts are created equal. Here’s the lineup you should be watching for: Clean Breakouts: The rarest and most beautiful. Strong move, high volume, sustained momentum. You’ll know it when you see it — or after you’ve hesitated and missed it. Fakeouts (a.k.a. False Breakouts): Price nudges just past resistance, triggers breakout orders, then swiftly reverses. Designed to shake out breakout traders before resuming the original trend. Break-and-Retest Setups: Often the highest-probability trades. Price breaks out, then pulls back to retest the former resistance (now support). If buyers defend this retest, you’ve got confirmation. News-Driven Breakouts: Triggered by earnings, economic data, or political events. Volatile, fast, and often unsustainable unless backed by real fundamental shifts. 📈 The “Pre-Breakout Tell”: Reading the Tape Good breakout traders aren’t just watching levels — they’re watching how price behaves near those levels in advance. Tight consolidation? Lower volatility into resistance? Declining volume as price grinds higher? That often signals an impending breakout as supply dries up. Conversely, choppy action with large wicks and erratic volume often signals indecision — ripe conditions for failed breakouts and fakeouts. Tape-reading matters. The cleaner the structure before the breakout, the better your odds. 💰 Breakout Traders Need Thick Skin Even with perfect analysis, breakout trading requires accepting that many will fail. That’s the game. Your job isn’t to nail every breakout — it’s to size your positions properly , keep losses small when faked out, and let the clean breakouts run when you catch one. Stop-loss discipline is everything. Breakouts are binary events: you’re either right quickly, or you’re cutting the trade quickly. There’s no room for “maybe it’ll come back.” The most painful breakouts are the ones that fake out, stop you, then continue in your original direction. Every breakout trader has lived that nightmare. Accept it. Build it into your risk plan. 👉 Takeaway: Prepare the Setup, Anticipate the Fakeout Breakouts will always be part of every trader’s playbook. But they require discipline, experience, and an iron stomach. The market loves to tempt you with early signals — your job is to separate signal from noise. Pro tip: Start your day by checking the Economic calendar and browsing the latest news — staying informed (and witty) helps you build better context for smarter decisions. So before you chase that next breakout candle, ask yourself: Is volume there? Is the broader market supportive? Have I managed my risk before clicking buy? Because in trading, the only thing worse than missing a breakout… is getting faked out and blowing up your account chasing it. Now over to you : Are you a breakout trader or a fakeout victim? Share your best (or worst) breakout stories — we’ve all been there.
Education
by TradingView
26
Crypto XRPUSD Bear Bull Zone! What is Ripple Xrp next Big move? 🌎 Crypto XRPUSD Bear Bull Zone! What is Ripple Xrp next Big move? 🟢SeekingPips🟢 Says... "when levels are as clean as this we can always use one of our intermediate TIMEFRAMES". In todays case that task falls onto the 📉 120 MINUTE CHART📈 The GREY ZONE is our BIAS going forward for at least the next 48 HOURS. Therefore 🟢 SeekingPips 🟢 is strictly BULLISH ABOVE & BEARISH BELOW the GREY ZONE. 🚥 SIMPLICITY is a KEY ingredient to having LONGEVITY in the FINANCIAL MARKETS 🚥
by seekingpips
1
Careful Trusting "News" | Fake News TradingOn Monday, April 7th, 2025 amidst incredible market volatility, you'd expect your most trusted news outlet to report on-the-minute news. But most importantly, accurate news . With the markets down nearly 20% in ~4 trading days, every piece of information matters. But with the age of fast (social) media, news outlets will do anything possible to be the first to report. Even .... posting fake news. The way this works is they get news that's "probably true", they post it, then it's verified to be true. This may work often for them and when it doesn't, nobody really cares. But when you're talking about times of volatility unseen since COVID, all this nonsense gets exposed. So - at roughly 10:10 AM EST, CNBC reported that there will be a "90-day pause on tariffs". A ground-breaking report that likely caused John Doe to buy $10M in NASDAQ:NVDA calls dated end of July because that's a no-brainer right? It surely cannot be false since CNBC is his go-to trusted news-source and there is just NO WAY that they would ever post any news without being 100% true and verified. ESPECIALLY news about TARIFFS -- the talk of the town (psh, the world actually) at the moment. 90 day pause? That's not something you report lightly. You know the ripple effect that'll have on the markets. Result of that news report? The markets (e.g. CME_MINI:NQ1! ) jumped 6.60% in under 10 minutes. Jane Doe likely saw that jump, looked at that news, and rebought her shares that she sold at the bottom earlier this morning. Surely that news cannot be fake. It's a 90-day tariff pause. That's huge. Surely the White House will see "Yeah baby! We take credit for that". Nope, at roughly 10:18 AM EST, the same CNBC reported that, "the 90-day pause on tariffs was fake news according to the White House". Results? Market right back down -6.5% in 20 minutes. Suppose you FOMO'd into AMEX:SPY NASDAQ:QQQ calls.. well, you lost almost everything depending on the strike and date. In this market, manage your RISK and always hedge. Don't forget to thank CNBC, your most trusted news-source for that capital gain loss. Welcome to trading in 2025. The age of report-first, verify-later. Welcome home. Be careful listening to the news and take everything they say with a grain of salt. And as always, don't chase the news. KD out.
CME_MINI:NQ1!Education
by kingdips
13
The Two-Faced Market: The Truth Behind Trend Reversals!🎭 The Two-Faced Market: The Truth Behind Trend Reversals! 📊🚀 📢 Ever entered a trade thinking you caught the perfect trend , only to get stopped out as the market reversed? You're not alone. The market has a way of fooling traders—but if you understand its “two-faced” nature, you can stay one step ahead. 🔥 Why Trends Reverse (and How to Catch It Early!) Most traders believe trends reverse due to "news" or "randomness." But in reality, the market gives signals long before the turn happens. Here’s what to watch for: 🔹 Momentum Divergence: The price makes a new high, but indicators like RSI/MACD don’t. 🔹 Volume Anomaly: The trend continues, but volume dries up—a sign of weakness. 🔹 Failed Breakouts: Price breaks a key level, only to fall back inside—trapping traders. 🔹 Candlestick Clues: Reversal patterns like engulfing candles or wicks rejecting key levels appear. 🚀 Mastering these signals can put you ahead of 90% of traders. 📊 Real Example: XAU/ USD Trend Reversal in Action 🔎 Breakdown of the setup: ✅ Step 1: Identify a trend (through market structure, trendline or moving average). ✅ Step 2: Look for failed breakouts against the trend ✅ Step 3: Look for trend-following setups 🎯 The Market’s Game: Recognizing The Shift Trends don’t die suddenly—they fade before reversing. The best traders spot the early signs and position before the crowd. 💡 Have you spotted these reversal signs before? Drop a comment with your experience! 👇🔥 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by TheSignalyst
3
Nvidia - The +50% Rally Is Inevitable!Nvidia ( NASDAQ:NVDA ) is about to create a false breakdown: Click chart above to see the detailed analysis👆🏻 After the -12% drop on Nvidia last month, Nvidia actually broke the final support trendline towards the downside. However bulls are about to break it again towards the upside, which would confirm the false bearish breakdown, leading to a short squeeze rally of about +50%. Levels to watch: $140, $200 Keep your long term vision, Philip (BasicTrading)
NASDAQ:NVDALong
by SwingTraderPhilTV
41
Gold Price Analysis (1H Timeframe)Gold (XAU/USD) is currently trading inside an ascending channel, showing a bullish trend. However, a key trigger line at $2,936 will determine the next move. 🔹 Bullish Scenario: If price stays above $2,936, we can expect a push toward $3,028 and potentially $3,085. A breakout above $3,085 would confirm strong bullish momentum, targeting new highs. 🔻 Bearish Scenario: A break below $2,936 could signal weakness, leading to a drop to $2,880. If selling pressure continues, the next major support is at $2,803. 📌 Trading Plan: 🔸 Long Entry: If price holds above $2,936, with a target of $3,028 - $3,085. 🔸 Short Entry: If price breaks below $2,936, targeting $2,880 - $2,803. 🔸 Risk Management: Use stop-losses near key levels to minimize risk. 📊 Watch Volume & Price Action! A breakout with strong volume confirms the trend direction. Low volume means potential fakeouts—wait for confirmation before entering trades. 📢 What do you think? Share your views in the comments! 🚀
OANDA:XAUUSDLong
by PIPsOptimizer
Nasdaq - This Can Still Be A Fakeout!Nasdaq ( TVC:NDQ ) is starting to slow down: Click chart above to see the detailed analysis👆🏻 A couple of months ago, the Nasdaq perfectly broke above the channel resistance trendline again, attempting the creation of another parabolic rally. However bulls are not flexing their muscles properly so this breakout attempt could still turn into a devastating fakeout. Levels to watch: $20.000, $17.000, $30.000 Keep your long term vision, Philip (BasicTrading)
TVC:NDQShort
by SwingTraderPhilTV
37
Nightly $SPX / $SPY Predictions for 12.30.2024🔮 📅 Mon Dec 30 ⏰ 9:45am Chicago PMI: 42.7 (previous: 40.2) ⏰ 10:00am Pending Home Sales m/m: 0.9% (previous: 2.0%) 📅 Tue Dec 31 ⏰ 9:00am S&P/CS Composite-20 HPI y/y: 4.1% (previous: 4.6%) 📅 Thu Jan 2 ⏰ 8:30am Unemployment Claims: 220K (previous: 219K) ⏰ 9:45am Final Manufacturing PMI: 48.3 (previous: 48.3) ⏰ 11:00am Crude Oil Inventories 📅 Fri Jan 3 ⏰ 10:00am ISM Manufacturing PMI: 48.3 (previous: 48.4) GAP ABOVE HPZ: Markets are playing traders like a fiddle. If it pumps then an impeding drop OPEN WITHIN EEZ: Tag the upper levels before drop into 5951 area GAP BELOW HCZ: This will cause extreme hedging which will drag the markets up higher before a dump lower #trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
SP:SPX
by TrendTao
Bitcoin - DOUBLE TOP Weekly TimeframeA Double top in the weekly timeframe is never a good sigh - however, all is not yet lost. One final pattern remains to be seen - and that is the Bump and Run method. Perhaps we can bump that diagonal support around 65k, retest the bulls' determination - and then make the final impulse wave up. There is a fakeout observed on Dogecoin as well, and alts that have increased alongside BTC over the past week will likely fall pretty hard IF Bitcoin cannot keep closing ABOVE 65K. ______________________ BINANCE:BTCUSDT
by Crypto-Check-
4
Tesla - False Bullish Breakout!Tesla ( NASDAQ:TSLA ) is almost back below resistance: Click chart above to see the detailed analysis👆🏻 Last month, Tesla finally managed to close above the resistance trendline of the long term descending triangle continuation pattern. However over the past couple of days, Tesla stock then tumbled and is now trading below the trendline, potentially creating a false breakout. Levels to watch: $160, $220 Keep your long term vision, Philip (BasicTrading)
NASDAQ:TSLAShort
by SwingTraderPhilTV
2