False breakout patterns are one of the most important price action trading patterns to learn, because a false-break is often a very strong clue that price might be changing direction or that a trend might be resuming soon. A false-break of a level can be thought of as a ‘deception’ by the market, because it looks like price will breakout but then it quickly reverses, deceiving all those who took the ‘bait’ of the breakout. It’s often the case that amateurs will enter what looks like an ‘obvious’ breakout and then the professional’s will push the market back the other way.
The market was previously in a parallel channel to the downside, which has higher chances of breaking to the upside! And Vice Versa.
The reasons behind this sell off can be plenty, Crude Oil touching highs, Gold/silver price pick-up, Ukraine-Russia War, US market indications, or whatever.
One thing you should take proper care not to do is Follow the news to predict the market. You want to be a trader in Futures and options? Great! Now ignore the market news. Whatever the news is or is Going To Happen it is right there hidden in the Price Action. NOT ON NEWS CHANNELS OR TELEGRAM GROUPS.
Do your own trade according to your own setup. Long Short doesnt matter, Believe in your setup.Test it Backtest it. Identify the loops. Close the loops.
Stock Market is not Quantum Physics.
The market was previously in a parallel channel to the downside, which has higher chances of breaking to the upside! And Vice Versa.
The reasons behind this sell off can be plenty, Crude Oil touching highs, Gold/silver price pick-up, Ukraine-Russia War, US market indications, or whatever.
One thing you should take proper care not to do is Follow the news to predict the market. You want to be a trader in Futures and options? Great! Now ignore the market news. Whatever the news is or is Going To Happen it is right there hidden in the Price Action. NOT ON NEWS CHANNELS OR TELEGRAM GROUPS.
Do your own trade according to your own setup. Long Short doesnt matter, Believe in your setup.Test it Backtest it. Identify the loops. Close the loops.
Stock Market is not Quantum Physics.
Comment:
You are Trading Beliefs.