#BreakoutTradingStrategy What is a Breakout?

A breakout occurs when the price of an asset moves outside a defined support or resistance level with increased volume. This often signals the beginning of a new trend.

📈 Key Concepts:

Support: A price level where a downtrend pauses due to demand.

Resistance: A level where an uptrend halts due to selling pressure.

Volume Confirmation: Strong volume supports the validity of a breakout.

⚙️ How the Strategy Works:

Identify the Range: Spot consolidation zones or chart patterns (triangles, rectangles).

Set Entry Points: Place buy/sell orders just above resistance (for a long) or below support (for a short). #BinanceSquare #Write2Earn