Get started

Falsebreak

ETHUSDT had a false breakoutThe price is creating a pennant below the daily resistance and the price had a false breakout. On the daily timeframe, the price tested the 0.618 Fibonacci level with a nice candle. As you can see on the left the price created a W pattern and now the price is trying to have a breakout from the neckline. How to approach? The price needs to have a breakout from the weekly resistance and retest the daily resistance as support on 3200$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
13
BTCUSDT false breakout?As I told you on the previous analysis the price wanted to retest the supply zone. At the moment the price is creating a long wick candle on that level, and it could be a false breakout of 43k. As I told you before, the price needs to create a clear higher high with volume and momentum. So if the price is going to create a clear breakout of 43k, and retest the resistance as new support, we could see another bullish impulse until 45k. With the current candle, it seems like a stop-loss hunter. –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
by InkyGrip
31
BTCUSDT false breakout?The price had a false breakout from the daily area on 38400 and now the price is trying to come back into the daily structure. the false breakout could confirm if the price will have a daily close above the 39200$ Otherwise, if the price is going to have a rejection from the daily structure and confirm the 4h breakout above the new lows (37600) we can apply our rules for a new short position until 34200. This week will be crucial –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
21
GOLD - Upswing Momentum Can Lead to 1815Though we expect gold to hit 1790-1800 resistance zone and then pull back to 1750-1760 level, it seems like the upswing momentum is so strong that gold will just strike through the resistance zone 1790-1800. A few things to note on the daily chart: - A false break of the 2018-2019 uptrend line - Three river morning star candlestick pattern at major yearly support 1675 - Bullish divergence on MACD Now expect gold to continue to move up and test the 200-day moving average at 1815, which is also August's open. Pay attention to the downtrend line from 1916. Only there we can expect some kind of reversal.
FX_IDC:XAUUSDLong
by GOLDTREND-NET
BTCUSDT - bull trapYesterday there was a false breakout! super beautiful example! I will tell you below what a false breakout is! False Breakout Patterns False-breakouts are exactly what they sound like: a breakout that failed to continue beyond a level, resulting in a ‘false’ breakout of that level. False breakout patterns are one of the most important price action trading patterns to learn, because a false-break is often a very strong clue that price might be changing direction or that a trend might be resuming soon. A false-break of a level can be thought of as a ‘deception’ by the market, because it looks like price will breakout but then it quickly reverses, deceiving all those who took the ‘bait’ of the breakout. It’s often the case that amateurs will enter what looks like an ‘obvious’ breakout and then the professional’s will push the market back the other way As a price action trader, you want to learn how to use false breakouts to your advantage, rather than falling victim to them. Here are two clear examples of false breakouts above and below key levels. Note that false breakouts can take different forms. Sometimes a false break will occur with a pin bar pattern or a fakey pattern as the false break, and sometime not A false breakout is essentially a ‘contrarian’ move in the market that ‘flushes’ out those traders who may have entered on emotion, rather than logic and forward thinking. Generally speaking, a false-break is happens because amateur traders or those with ‘weak hands’ in the market will tend to enter the market only when it ‘feels safe’ to do so. This means, they tend to enter when a market is already quite extended in one direction (and it’s about ready to retrace) or they try to ‘predict’ a breakout from a key support or resistance level too early. Professional traders watch for these missteps by the amateurs, and the end result is a very good entry for them with a tight stop loss and huge risk reward potential. It takes discipline and a bit of ‘gut feel’ to know when a false-break is likely to occur, and you can never really know ‘for sure’ until after one has formed. The important thing, is to know what they look like and how to trade them, which we will discuss next…
by Yuriy_Bishko
30
DAX 30Short Term Trend: Bullish. Price Action Signals: Price sold off after a false break out above the 14135 resistance level last week. Price moved down from a Bearish Pin Bar that formed just under the 14135 major resistance level, 2 weeks ago (counter trend). You will note last week we said ‘We are not looking to trade the break out above the 14140 level as this type of trade has proven risky in this market recently, with several false breaks eventuating’ Potential Trade Idea: We are considering trading longs only after a substantial retracement in prices AND after a price Action Buy signal forms on the 4 hour or daily chart at either the 13460 or 13248 support levels.
GLong
by mr.rayparis