breakout after a fakeout ?
Hi traders,
I have observed many times that before a reversal move, there will be likely a fakeout. As you see, it does first a fakeout. And now it is making a breakout and re-test. In my opinion, it will bounce from there. In case of the movement becomes a fakeout, I will stop loss below the trend line in 4 hour close.
Besides it, Blue lines are the strong levels, Black lines are relatively weak levels. Based on your strategy, you may close your position around every black level partially, or may close your position around blue line totally.
Stay safe.
I have observed many times that before a reversal move, there will be likely a fakeout. As you see, it does first a fakeout. And now it is making a breakout and re-test. In my opinion, it will bounce from there. In case of the movement becomes a fakeout, I will stop loss below the trend line in 4 hour close.
Besides it, Blue lines are the strong levels, Black lines are relatively weak levels. Based on your strategy, you may close your position around every black level partially, or may close your position around blue line totally.
Stay safe.
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