LIVEHOW TO AVOID FAKE BREAKOUT TRADING!!! TRADE ON REAL BREAKOUT✅️
Today I share some strategies to findout the Fake / False breakout trading to avoid big loss of money and trade on real breakout in #Binance trading platform.
Please note, I'm not a professional trading expert. I just share some strategies based on my opinion and experience in the crypto trading market. So let's start...
● As we know, cryptocurrency will trading in blockchain method and when a candle successfully break the resistance line we called Breakout. This is the real time to trade on these coins and take huge profit.
● Sometimes we see that some coins are breakout the resistance line but after liquided stop loss they are going to down very hardly. In that case, if we take entry on these coins we make huge loss for this fake breakout.
● To avoid false breakout, before take entry on any coins we need to wait and observe at least 2 days. If you see that 1 day candle closed over the resistance line and successfully retest next candle again over resistance line this is the real breakout (as shown attached image). Now you can take entry on these coins and hope you will take big profit until hit the next resistance line.
● If you see that 1 day candle closed over the resistance line but next candle closed inside resistance line this is fake / false breakout (as shown attached image). Don't take entry on these coins otherwise you will loss a huge amount or you need to wait a long time to take profit by DCA.
NOTE: To findout real and fake breakout, you must have enough knowledge to draw support and resistance line on the #BTC trading chart.
Hope above points are helpful for everyone to understand the real and fake breakout strategies.
