Price is fighting with a major support.
Price always pass through the support or resistance when its tested more than 3 times as buyers or sellers sitting on that point gets exhausted. two possible scenarios if it breaks the support. one is it breaks and sustains and go down. second is it breaks, does not sustain and starts moving upside indicating false break.
sustains meaning at least one candle closes above the resistance and for support, one candle must close below the support.
for breakout trade, one must wait for the candle to sustain and enter above that candle. if the candle is too large then leave the trade its possible that the trade may fail. SL must be placed below that sustained candle if you are looking for an upside move above the sustained candle if you are looking for a downside move
do your own research before taking any trade. this view is for education purposes only
Price always pass through the support or resistance when its tested more than 3 times as buyers or sellers sitting on that point gets exhausted. two possible scenarios if it breaks the support. one is it breaks and sustains and go down. second is it breaks, does not sustain and starts moving upside indicating false break.
sustains meaning at least one candle closes above the resistance and for support, one candle must close below the support.
for breakout trade, one must wait for the candle to sustain and enter above that candle. if the candle is too large then leave the trade its possible that the trade may fail. SL must be placed below that sustained candle if you are looking for an upside move above the sustained candle if you are looking for a downside move
do your own research before taking any trade. this view is for education purposes only