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Fakebreakout

GBP/CAD Potential Upward Movement:bulb: Trade Idea :chart_with_upwards_trend: Buy Limit GBP/CAD @ 1.7334 :dart: Target Profit 1.7438 :octagonal_sign: Stop Loss 1.7283 :x: Do not risk more than 1 % of your account on each trade :slight_smile: Good Luck ! Description: The pair is trading within a corrective channel, but It posted a double bottom which indicates a potential reversal to the upside. Our expectation is a lower correction toward the highlighted white zone before a move upward towards the 1.7438 mark.
Long
by CollegeofPips
12
EUR/AUD Potential Upward Movement:bulb: Trade Idea 📈 Buy Limit EUR/AUD @ 1.6207 :dart: Target Profit 1.6335 :octagonal_sign: Stop Loss 1.6143 :x: Do not risk more than 1% of your account on each trade :slight_smile: Good Luck! The daily support rejected the price twice, plus it posted a double bottom which indicates a high probability of a reversal. In addition, it manages to break the blue trendline. A lower correction is expected towards the neckline, then a move upward to the 1.6335 mark.
Long
by CollegeofPips
8
22/06/2020RSI in over extended territory, BBS well over extended. MFI showing alot of cash flowing in, though I have noticed that this indicator does and has shown high vo;ume with pumps in price. The MACD seems quite confused though is bullish and Stochs are showing overbought... I would be careful of this pump, I do believe this could very well be a fake out. It has bypassed multiple resistance and long term trend lines of resistance in a very short period of time (although I am using the 4 hour) but still, I would not FOMO in if not already in a trade, wait until things settle down a bit then decide what to do. Thanks!
BYBIT:BTCUSD.P
by Crypto_Jakk
Bitcoin Supper Bullish Scenario!As you can see in the chart, In the last few weeks we have witnessed two very strong and Important events: 1- V-Spike Pattern: Bitcoin dropped about 60% in just 2 weeks and then recovered almost the entire previous drop in less than 2 month. This move can be considered as a strong bullish sign in the market. Because the bears used all their power to lowering the price but they couldn't break the major support and the price recovered very quickly after that. 2- Fake Break Out: Formation of this pattern is one of the strongest signs of a bullish market. As you can see in the weekly time frame, we have an important trend line (red uptrend line) that has broken a few weeks ago. But now the price is again above the trend line and I think we can't break this trend line for the second time because it's super strong now. with all that said, I see two bullish scenarios for the bitcoin price. 1- Breaking the downtrend line and keep going up. $32,000 is the target for this scenario 2- Rejection from downtrend line, correction to the uptrend line again ($7,500 range) and then continuing the upward move. I Will Update this analyse in the next few weeks.
Long
by HyperProphit
6
BSV. Becareful of breakouts. Watch out!Hello friends, I hope you're all well. I've been thinking of making SWOT and technical analysis videos for crypto and stocks. I really enjoy the fundamental analysis part, it's the wetstone used for sharpinng a dull knife(Decision), the technical part is the polishing of the knife(precision). Okay so, Bsv is pushing up slowly, and Btc is fluctuating around $10,000. Today I wanted to mention something that is against popular belief. In my chart it says, 'Don't buy breakouts(b/o) or resistance', it's means never buy when it's up. There is absolutely no benefit at buying at breakouts or before the resistance, because my question is, if I thought Bsv was going to go UP, why didn't I buy it at a lower price? If I bought it during Aprils lows, that low entry trade would reduced my risk of it going lower, because Bsv was already oversold. When I was a new trader, I was always taught by 'Gurus' to buy at B/O, everytime I did, it reversed against me, it would go back down. Breakouts are so risky and it reduces your profit margin. Lets assume we bough at #1 instead, having a long position there, that entry level would reduce our risk because it's near the bottom, and it would increase our profit margin because it's so far from resistance @ #2. This is the knowledge behind the golden rule 'buy low, sell high'. I feel so childish to had kept buying at upward B/Os. If I think Bsv is going up(Fundamental research kicks in), I'll buy Bsv in the dip. I never get in at the top no matter what, cause that reversal is a bigggg risk, and profit margin has been reduced. Other than that, there isn't much going on besides increased Bsv utility usage, and Btc halving is in a couple of days. I think Bsv may do a fake B/O to the top then drop. My emotions are under control, I only buy dips and sell rallies, and I always average dollar cost or sell, so I get the lowest or highest average rate )). This my style and I haven't had a losing trade for a while. If you want more information, you can always ask me, I'm okay with it. I hope some of you found this information valuable, I would assume many of you probably already knew it. Please like, share and follow. It means a lot to me. I'll keep you posted if the stocks or crypto make any drastic moves. Have a good one. ))
B
by JacobTrader100