5/26/Community: Identification and Practical Skills for True and False Breakthroughs The live broadcast will share various mainstream technical indicator application methods and analyze the technical forms of the day.
[BCH/4H Chart] Example
Identification and Practical Skills for True and False Breakthroughs; During the process of technical analysis and practical trading, the market often experiences many breakthroughs of support and resistance before continuing to develop in the breakthrough direction. However, various false breakthroughs in the actual trading process often lead to losses for partners who like to focus on breakthrough trading opportunities. How to skillfully use false breakthroughs for positive trading in the actual trading process is the main theme of today's article.
We will use the BCH 4-hour level for case analysis; on October 2nd, the resistance of BCH price was at 245. This resistance experienced three consecutive multi-pin topping bearish signals, followed by a brief strong breakthrough, reaching the highest point of 255, and then a 12-hour struggle for dominance between bulls and bears, ultimately being suppressed back below the 245 resistance. Two bearish trends then appeared, with the largest amplitude reaching about 20%. How to identify whether the market at that time was a false breakthrough requires the application of two knowledge points: first, clearly defining the resistance; second, whether there are classic bearish signals near the resistance area. BCH near the resistance repeatedly experienced three consecutive multi-pin topping bearish signals, lasting 12 hours. After a brief breakthrough, it could not effectively stay above the resistance and again took 12 hours for three bearish signals to return below the resistance. The shooting star line at the time of the high and low retreat was the best entry point for short positions, with the stop loss set above 255. The subsequent market trend is then a question of capturing the bearish gains for one or two segments. Therefore, false breakthroughs in technical trading are actually a very good trading opportunity, worthy of in-depth study by partners!
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