Fake Breakouts
The market is still consolidating, it will hopefully break out soon but be careful of fake breakouts. They are called stop hunters, looking for obvious places where people have put their stops. When do you get stop hunters in NASDAQ- Alot the time they happen during the New york market opening hours. Catches people out all the time. Be a different trader- dont think like everyone else. Don't put stop losses at obvious places where you know everyone has put them. The big players in this game know how you think, so to change that you need to be unpredictable.
The market is still consolidating, it will hopefully break out soon but be careful of fake breakouts. They are called stop hunters, looking for obvious places where people have put their stops. When do you get stop hunters in NASDAQ- Alot the time they happen during the New york market opening hours. Catches people out all the time. Be a different trader- dont think like everyone else. Don't put stop losses at obvious places where you know everyone has put them. The big players in this game know how you think, so to change that you need to be unpredictable.
Note
Like I said fake breakout around the New York market opening. Want to learn more, get more information regarding my course
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.