chart_patterns22

Fake reverse and Breakout

BINANCE:BTCUSDT   Bitcoin / TetherUS
Here BTCUSDT break the lower level of parallel channel. But it was a fake breakout. But it took support at 50ema and reversed and gave a huge profit. If one concept break check other as support such as 50ema, it's a huge support in all levels. When it reversed back watch the line of half trend. You can put lower level of half trend as sl too. Always check 30min or 1hr pivot as targets. Volume with ma also helps to know it's a demand area or not

Penafian

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