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Fakebreakout

USDCAD Analysis: Week 7/12/21 - 7/16/21OANDA:USDCAD This is a situation where I see a possible fake breakout. Price broke out of the long term blue trendline and is forming a head & shoulders . In my opinion the fundamental bias for this pair tilts to the downside. I think if we see price breaking back below the trendline there could be some violent moves down as possible buyer stop losses get triggered. This analysis is going against the current trend, so it's a little more dangerous. Risk management is key! News I'm watching out for. (all pairs) Comments about the timeline of interest rate hikes. Comments about quantitative easing (tapering or not). Keep an eye on the opec+ spat. Watch for tapering of production cuts. Watch for oil demand projections returning to pre-pandemic levels earlier than expected. Any news about vaccines being ineffective against new variants of the virus. News about lockdowns due to virus variants. GL Traders! "The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance." - Ed Seykota
Short
by natron
⚡️ Understanding Breakout Traps ⚡️If we see a pattern form that retail likes to trade, It is highly likely that this pattern may get manipulated. The reason these common patterns get manipulated is because of liquidity forming. Banks want to make sure they can create enough liquidity for themselves to get positioned nicely in the market. They do this by driving the price up/down into stop loss areas. To avoid being caught out we need to sit on our hands, wait for the stop loss hunt to occur before we go-ahead with our initial position bias.
Education
by AlkalineFX
Still not out of the clear* Warning While retail bagholders had a breather, Nikola managed to jump nicely in the few days. However, with rising inflation amid tech stock sell-offs NKLA may drop to 11$, before it resumes an uptrend. Anything is possible. Also lots of Articles out lately warning of NKLA's SEC and DOJ investigations. Analysts have also slashed the forecast while no hedge funds are in. The stock is 25% retail owned. Play with the trend. Overall long term trend : Bearish Short term trend : Bullish Use a tight SL and safe trading! NASDAQ:NKLA
NASDAQ:NKLAShort
by jackohgorman
1
Fake Out on MANA?Too me MANA looks to be a fake out. Only one bar closed above the resistance level but the rest of them didn't close to far off of the resistance which is a good sign for me only thing that has me a bit worried is the volume the volume is pretty low we want to see a high volume breakout to signify a stronger breakout. MANA isn't out of the woods yet though I think we might start to consolidate close to the resistance line and then smash through and continue up or we come back down and test our support again and continue from there. (NOT FINANCIAL ADVICE DYOR)!
BINANCE:MANAUSDLong
by BDACrytis
$T Symm.Triangle Breakout vs Fakeout?Hello Everyone! I recently had a successful play on ATT purchasing some calls before this past weeks uptrend on $T Unfortunately, since I didn't enter the trade with any real, calculated goal targeted, the position was exited once I saw an enticing percentage of gains. While I'm overall happy with the results, I couldn't help but notice the disappointment in myself as the price on the calls continued to rise even more after I sold them, knowing I could've quite easily returned even more from the position. So I've pulled up AT&T to get a closer look to see if I can identify any other clear opportunities on a new position. If things play out along with my idea, I'll enter a new position and this time with a more calculated plan- as is my main trading goal for this new year. To trade with more calculated entries and target goals to exit & improve accordingly. $T seems to be bouncing within a more symmetrical triangle pattern, with no real success breaking out- as noted by the circles marking the failed attempts. Personally I'm predicting that with some of the new business strategies AT&T is aggressively taking on recently, we could see some buyer confidence based off of those fundamentals. This could support the possibility of finally breaking out of this Symmetrical Triangle. We also seem to be retesting the resistance more than the support. If price breaks above the horizontal line (marked BULLISH), a pullback using that line as new support would be a great point for an entry. The top of that green arrow marks the target, slightly under $37 While watching this play out, I'm considering if taking on this move in the form of going long on both shares & some Options calls would be a strong move? That play would require some closer consideration to avoid over exposure to risk. I say that, because at this point it seems equally telling that ATT could continue downward, especially if resistance holds on a retest and buyer confidence weakens. I've laid out the 50 MA (thicker white band) & the 20 MA (thinner yellowish band) the 50 MA will help as a tool to plot safe stop losses without being too overprotective of the position resulting in getting stop'd out. I'll try to update on which way my view of this potential plan plays out on this idea. Please feel free to give friendly but honest critiques! Happy Trading! *this is not financial advice* **all my charts are for educational & personal tracking purposes**
NYSE:T
by NillaCoin
5
Bitcoin it's drop!!! That was a bear market trap!!! Waoh, today I see that Bitcoin make invalided this analysis for long position from the #31,000 USD that in the past days, we earn profit until we see the same day a strong rejection and now, BItcoin it's drop!!! This it's the bullish rising wedge and as we noted, we make a fake break out of this pattern and well, now, Bitcoin it;s leading again the $31,000 USD. But if Bitcoin break down this level, my next level it's to watch a Bitcoin at $27,800 USD, but we use Fibonacci in Daily chart becuase we coudl see any possible entry in the $27,800 USD support important or the 0.618% of Fibonacci, in the price of $26,100 USD approximately to entry to long position!!! I do not going to trade Bitcoin until we see any confrimation if we break out the level of $31,000 USD, I will going to short Bitcoin toward the $27,800 USD. i'd like more this timeframe at 3 Daily chart. As we are into this bearsih channel, we could see a next long position in the near term. In summary, Bitcoin it's drop and we see a fake out of the break out of this bullish rising wedge and the price make rejection in H8 or Daily timeframe if we look with very carefully the price action that they speak us. And then, I do not reccomend to short now, just wait for the next entry in long to $31,000 USD again or wait any break down of this level to short Bitcoin toward the $27,800 dollars. Guys, if you like this plan and overview, please comment below what it's your plan?
COINBASE:BTCUSD
by harisonhbn9718
Cardano Correction or move up?in this time frame we have a great ascending channel as you see in the chart, and key levels of support and resistance .for now price follows the bearish trend line and one unsuccessful break out and a triangle pattern as well. if the price could break out successfully and stabilize above the resistance we can see bullish movement to the top of channel 48 or 50. but if price be unable to break above and break downside of the triangle and ascending channel the two main support could be great area for price recovery and powerful movement to the higher targets.
by behnamkarimi6
EURNZD looking up 🦐EURNZD on the 4h chart after a double bottom attempt to break below in a false breakout. The price from there took the liquidity and starts a new impulse to the upside. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long order. -––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
16
XLM/USDT Preparing Its Rocket Towards the 0.3947 level 🚀🚀🚀💡 Trade Idea 📈 Buy Limit XLM/USDT @ 0.2810 🎯 Target Profit 0.3947 🛑 Stop Loss 0.2511 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price was trading within a descending wedge formation before reaching the daily support @ 0.2285. We have a 61.8% Fibonacci pullback which indicates a potential reversal to the upside where the price might reach the 0.3947 level. ------------------------------------------------------------------------------------- Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by collegeofpips are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
Long
by CollegeofPips
12
GBP/AUD Might Tumble to the 1.7422 Level 🔨🔨🔨💡 Trade Idea 📉 Sell Limit GBP/AUD @ 1.7634 🎯 Target Profit 1.7422 🛑 Stop Loss 1.7736 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price was in a clear downtrend, but it posted a double bottom near the daily support (1.7423) which indicates a potential reversal. As per our analysis, this reversal might be a slight correction to the upside towards the 61.8% Fibonacci pullback and then a potential move downward to the 1.7422 mark. ------------------------------------------------------------------------------------- Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by collegeofpips are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
Short
by CollegeofPips
13
GBP/USD Aiming to Reach the 1.3704 Mark 🚀 🚀 🚀 💡 Trade Idea 📈 Buy Limit GBP/USD @ 1.3546 🎯 Target Profit 1.3704 🛑 Stop Loss 1.3504 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price is trading within a corrective channel where it reached a daily support (1.3487). Our expectation is to see the price making a potential correction towards the 38.20% Fibonacci pullback before moving upwards to the 1.3704 level.
Long
by CollegeofPips
10