How do you spot breakouts and fakeouts?

  • How do you spot breakouts and fakeouts?

    Posted by Bobby Belfort on July 27, 2022 at 3:33 pm

    What is your take on breakouts? Do you think they should be tested before going higher or lower, depending on whether the price action has confirmed an upward or downward trend respectively. I would say that strong moves don’t bother testing support levels but it’s hard to tell for sure without backtesting historical data!

    It seems like most real-life Breakout traders focus more heavily towards retesting resistance once there has been some sort of ‘ climax event’.

    The difference between real breakouts and fakeout can be razor thin but it’s not impossible to spot. But even though we may never know for sure whether our trades will go bullish or bearish, watching price action around the S/R zone helps us minimize losses if there are signs that indicate holding might still have some life left in them- at least until another opportunity presents itself!

    Bobby Belfort replied 2 months ago 1 Member · 0 Replies
  • 0 Replies

Sorry, there were no replies found.

feedback_mix.png

Feedback

We'd love to hear your feedback on how we can improve. Please let us know any issues with the website or suggestions on how we can make Traders With Edge #1.
If you want to leave your email so we can follow up, it's optional.
[gravityform id="17" title="false"]
[vgoAlias]
[vgoAlias]
[^;]
[^;]
[(d+)]
[(d+)]
[elem.name]
[elem.name]
[+_a-z0-9-'&=]
[+_a-z0-9-'&=]
[+_a-z0-9-']
[+_a-z0-9-']
[a-z0-9-]
[a-z0-9-]
[a-z]
[a-z]
[el.name]
[el.name]
[class^="wpforms-"]
[class^="wpforms-"]