Fakeout. Short term targets btc
OK so a little breakdown from What I'm seeing short term.
The yellow hand drawn circle is a brilliant example of a fakeout.
We recently broke down from a equal triangle shape after a fakeout (fakeouts are usual
signs of reversal coming)
The target for breaking down from this triangle would be about 27900. As shown by simple cloning the high to low of the beginning of the triangle.
27900 also brings us to out support zone again (red dashed horizontal)
Happy Bank Holiday 🍻
The yellow hand drawn circle is a brilliant example of a fakeout.
We recently broke down from a equal triangle shape after a fakeout (fakeouts are usual
signs of reversal coming)
The target for breaking down from this triangle would be about 27900. As shown by simple cloning the high to low of the beginning of the triangle.
27900 also brings us to out support zone again (red dashed horizontal)
Happy Bank Holiday 🍻
Note
Target reached perfectly before finding support!Then we came to retest the extended line from the previous pattern before further rejection.
Click the play button to see results!
Great play!
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