One of the easiest way to trade when you miss the initial move on a coin is:
1- Wait for the price to consolidate around the high 2- Draw a line on the that high 3- Enter when the price will close a candle above ( Depending on the timeframe you're watching) 4- Continue to ride it towards the next possible level.
Where will be your invalidation ? The same area that you choose for your buy will be your invalidation if the candle close back inside that high, this means the breakout is fake and now you should be managing your risk and exit the trade. This works on every coin or timeframe. Each timeframe shows you a different picture and produce different results.
🔼 If the price keeps going up and falling back down, that's called resistance. 🔽 If the price keeps dropping and bouncing back up, that's called support.
If the price keeps moving between these two levels, it's a rangebound market.
When a Breakout Happens: If price breaks above resistance it's a buying opportunity for buyers.
If price breaks below support it's a selling opportunity for short sellers.
🔁 In both cases, if the price returns to the breakout level (retest) and then moves again in the same direction the breakout is confirmed.
📌 Key Lesson: Entering too early can trap you in a fake breakout. Waiting for a retest confirmation safer entry, whether you're buying or selling.
Follow for more information like this. #BreakoutStrategy #PriceActionTips
#BinanceTurns8 Join the celebration of #BinanceTurns8 and win up to 888,888 USD in BNB! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_VV65I
#BinanceTurns8 ! Collect all Stellar Emblems from #BinanceTurns8 to earn additional BNB rewards! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_VV65I
#BinanceTurns8 ¡Join the celebration of #BinanceTurns8 and win up to 888,888 USD in BNB! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_VV65I
New Scam is going on P2P. You put usdt or any other crypto for sale in P2P. scammers will ask your WhatsApp number and in WhatsApp they ask for proof that your usdt or other crypto isn't flash or shadow. Scammers will help you to know flash or shadow crypto scam. Since scammers knew that you had put xxx usdt for sell and you have that much crypto, scammers will ask you to verify by sending 1usdt to some qr code. you will think that it's normal to verify with 1usdt and boom your xxx will transfer to scammers. This qr code is actually a crypto request of your xxx which you want to sell. These scammers purchase fraud whatsapp numbers and also purchase binance accounts by claiming to rent your binance account at $500 a day. Innocent people sell their accounts and that scammers put that binance accounts sellers at high risk.
Note: Whenever anyone ask you to trade out of p2p report them. Check their orders history Never send any crypto for verifying that it's flash or shadow by QR code deposit. Stay Safe #fraud #scamriskwarning
$BTC #BinanceTurns8 ¡Collect all the Stellar Emblems of #BinanceTurns8 to earn additional BNB rewards! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_VV65I