Don’t chase the rise of ACX. This is the second market signal I want to share.
Whether it is falling or rising, as long as the resistance level is broken, the support level will not be lingering. The black frame is the fall breaking the support level, which is basically a continuous fall. The yellow frame is lingering, which is not a breakthrough. The continuous new highs are due to retail investors' fomo buying, not the main traders' breakthrough. I may not make you make money, but I will not make you lose money. Waiting and watching is also a necessary trading mode. I think ACX will pull back to 0.59, and then it will be a good time to get on board.
There is a clear difference between a false breakout and a real rise. Most false breakouts are caused by bankers placing orders, and retail investors will take a long time to get on board. A real breakout is when the main force quickly breaks through the resistance level, which will not give retail investors too much time to get on board.
