Fake Breakout 1.You can diagnosis fake break outs with RSI divergence 2.One of good setups is wedge setup. Don't forget you can open position on third touch to trend line when you have divergence in RSI 3.Trend is your friend until it don't finish but here I didn't open position because I didn't have good r\r
Fakebreak
$GLD Wedge Fake-Break LowThe first break of a range type formation is almost always a failure. This can be amplified even more if that fake-break goes against the larger trend which, in this case, it does. Buyers have a LOT of reasons to look for continuation up and a higher low would be a great ticket to the show.