Technical analysis tip: "The Fakeout Trap"
have you ever got wicked out of a trade right before actual move happens? This is called a fakeout, and it really messes up beginners.
š How do you spot it:
ā¢Price breaks out of a range... but with an abnormally low volume š
ā¢Candlestick wicks are long and indecisive,
⢠The retest fails almost immediatelyā this means bulls/bears get trapped
š” The Play?
Allow the fakeout happen.
Patiently wait for price to return to the range.
Afterwards, enter in the opposite direction.
This doesn't make lateāit makes you smarter. š§
I've created an image for you below to use as reference.
ā ļø This simple tip can literally save your entire monthās PnL. Follow for more sniper tips and trade like a pro. šÆ Leave a comment below and i'll answer the best way I can.