Since this breakout occurred just before last week's close, I am going to keep an eye on it a bit longer since the open tends to be a bit unpredictable.
1. This is a great fakeout signal. Price attempted to trade lower and then sharply reversed. Not only that, it took out the 1.6988 upper boundary that I had plotted.
2. Price traded back to the breakout level. I'm surprised to see such a clean hold. However, I do have a concern that price may drift back below this level during this week's open.
1. This is a great fakeout signal. Price attempted to trade lower and then sharply reversed. Not only that, it took out the 1.6988 upper boundary that I had plotted.
2. Price traded back to the breakout level. I'm surprised to see such a clean hold. However, I do have a concern that price may drift back below this level during this week's open.
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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.