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Fakeoutsetup

DUSK MANIPULATION TRIANGLE PATTERN 🏴DUSK Network (DUSK) has something remarkable unfolding on its weekly chart. It has artfully painted a substantial bullish pennant pattern, complete with a fakeout move to the downside. Now, it's poised for a genuine upward surge. The key to entering this market? Patience and a confirmation through a flag retest. 📊🏴 The Bullish Pennant Emerges: DUSK has illustrated a spectacular bullish pennant pattern on its weekly chart. This pattern consists of a strong upward move (the flagpole) followed by a consolidation phase marked by lower highs and higher lows (the flag). It's a classic indicator of impending bullish momentum. 📈🚩 The Fakeout Element: What makes this scenario even more intriguing is the fakeout move to the downside. It's a tactical maneuver to shake off traders prematurely entering short positions. But for the astute trader, this can be seen as an opportunity. 🃏 Entering the Market: For those eyeing a position in DUSK: Wait for the Flag Retest: The prime entry point is after DUSK retests the lower border of the flag. This can act as a confirmation of the bullish intent. Risk Management: Implement solid risk management strategies, including stop-loss orders, to protect your investment. Stay Informed: Keep an eye on DUSK's fundamentals and any news that could impact its price action. Conclusion: The cryptocurrency market is a realm of intricacies, where patterns like the bullish pennant can offer insights into potential price movements. However, it's important to approach it with both caution and knowledge. The fakeout move might have left some traders bewildered, but it also creates opportunities. The key is to be patient, wait for confirmations, and be prepared for the genuine upward movement. As always, adapt your strategy to the ever-evolving market conditions, stay informed, and trade wisely. ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
by AlexWhale
Beyond Meat Chance for more Turmoil ExistsHi Guys! This is a Technical Analysis on Beyond Meat (BYND) on the 3 Day Timeframe. Ive been following BYND for a long time, trying my best to scope out a BOTTOM. This is an UPDATE to my ongoing analysis. So check out my other charts below for more context. **Note: Our Current Candle has just begun today 08/14/23 and will close on 08/17/23 We were doing well until we got rejected by the MAJOR RESISTANCE ZONE (Red zone) Even after we got rejected we did well staying ABOVE the 50 SMA. But we were not able to sustain SUPPORT and fell through. We also broke back down below the MAJOR RESISTANCE Trendline from June 2021. Until proven otherwise, the breakout ABOVE this trendline is now a FAKEOUT. It is absolutely CRUCIAL we get ABOVE this TRENDLINE this WEEK to continue our Trend change attempt. And also get back above and confirm SUPPORT on 50 SMA. The Longer we stay below the chance of further PRICE DECLINE is more PROBABLE. This can be a Good and Bad thing. Bad especially for those who have bought BYND at higher prices. But very good in the sense that it would create a sense of no return. This can lead to a necessary capitulatory event where people basically give up, laying the foundation for prices to finally start increasing. The next levels to watch are the labeled SUPPORT areas: 1. RED Support TrendLine 2. Black Resistance tuned SUPPORT trendline 3. MOST IMPORTANT -> Horizontal Support line labeled MAJOR SUPPORT 4. Last defence = Dashed Red Support Line -> If we do break & CONFIRM below the RED Dashed line, this would be the Capitulation event where everyone gives up. COuld be a potential scenario to go LONG. It also would, provided the indicators match/support the pattern, STRENGTHEN the BULLISH DIVERGENCE thats forming. (For more info on the DIVERGENC, look at my previous charts on BYND BELOW) Now with our Indicators, there are clues in the history that indicate and support further turmoil. Notice our STOCH RSI We are currently in a BEARish move down to 20 level. The last 2 times we reached here, we stayed below the 20 level for 59 days and 56 days. This caused prices to drop significantly. We would need to have a quick BULLISH cross and move back upwards or not stay below for extended period of time. Along with the STOCH RSI, pattern in the RSI when found in correlation with identified pattern in STOCH RSI supports the PRICE DECLINES. -> The pattern is when the Orange RSI line crosses below the BLACK line and stays below for extended periods can hint at price DECLINES. Stay level headed, wait till the end of the Week for Clarity. There is always a chance we get back above and continue upwards. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BYND in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:BYND
by SafofAllTrades
Whats a FakeOut in Technical Analysis.A fake out, in technical analysis, refers to a deceptive market move that initially appears to signal a significant shift in price direction but ultimately proves to be false. It occurs when a price breakout or breakdown occurs, luring traders into believing that a new trend is emerging, only for the price to quickly reverse and move in the opposite direction. For example, let's consider a stock that has been trading within a tight range between $50 and $60 for several weeks. Traders closely watch this range, waiting for a breakout or breakdown. Suddenly, the stock price surges above $60, triggering a breakout signal. Many traders interpret this as a bullish sign and start buying the stock, expecting further upward movement. However, instead of continuing the upward trend, the stock quickly reverses, dropping back below $60 and potentially even below the previous range. This sudden reversal traps the bullish traders, leading to losses and frustration. Fake outs can occur due to market manipulation, false signals from technical indicators, or unexpected news events. They can cause confusion and result in traders making incorrect trading decisions based on the false breakout. Therefore, it is essential for traders to exercise caution, verify breakout signals with additional confirmation, and use risk management strategies to minimize potential losses caused by fake outs. Can You See The FakeOut On This 4 Hr Chart
BITFINEX:LTCUSDLong
by sixteenFeb18
How did Open Interest tell me: Stay long as BTC Dumped!?!BYBIT:BTCUSD I was in 3 long trades as Bitcoin dumped on the 26th of May 2022. I had 2 choices. Close my longs because I saw price dumping below my entry or look at what Open interest was telling me to determine if this was a fakeout. I saw price dropping as OI was dropping. This meant that longs were closing out their positions, which means that when this ended, price could reverse quickly. Longs were closing out their positions and re-entering as shorts. As soon as this selling dried up, Longs started entering and then suddenly shorts were being liquidated, pushing the price up again. This is known as a stop run. Hit long stops and then hit short stops. Be aware of this kind of fakeout as it happens again and again! Learn to trade the retest and why it is important not to short at support and inversely why it is NB not to long at resistance, UNLESS you get a retest of that level! Not financial advice, DYOR. Papertrade before using real money. If this educational snipped helped you, please consider giving it a thumbs up and follow for more like this! Trade Safely and Learn something every day! Shawn
BYBIT:BTCUSD.PEducation
by zartraderguy