5/12/Community: Identification and Practical Skills for True and False Breakthroughs
Live broadcast sharing various mainstream technical indicator application methods, as well as analysis of 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, followed by further development in the breakthrough direction. However, various false breakthroughs in the market often lead to losses for partners who like to focus on breakthrough trading opportunities.
The theme of today's article is how to cleverly use false breakthroughs for positive trading during practical trading;
We take the BCH 4-hour level as a case study; 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 at 255, and then a struggle between bulls and bears. 12 hours later, it was ultimately suppressed by the bears back below the 245 resistance, leading to two bearish trend market segments with a maximum amplitude of about 20%. How to identify whether the market at that time was a false breakthrough requires the application of two points of knowledge: first, to clearly define the resistance; second, to determine whether there are classic bearish signals in the resistance area. BCH repeatedly experienced three multi-pin topping bearish signals near the resistance, taking 12 hours; after the brief breakthrough, it failed to effectively stay above the resistance and took another 12 hours to return below the resistance with three bearish signals. The shooting star line at the time of the high and low is the best entry point for short positions, with a stop-loss set above 255. The subsequent market trend is about capturing one or two bearish segments, so false breakthroughs in technical trading are actually very good trading opportunities; it is worth partners to delve into learning!
Recommended Approach [No Opinion]
Support/Resistance
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2023 Annual Strategy Guidance Record
January-December 2023///9 wins 3 losses
January complete/return rate 2322%///February complete/return rate -475%
March complete/return rate 3126%///April complete/return rate -491%
May complete/return rate +560%///June complete/return rate -66%
July complete/return rate +680%///August complete/return rate +82.54%
September complete/return rate 1346%///October complete/return rate 1298%
November complete/return rate 1752%///December complete/return rate 1384%
Total for January-December 2023: 12650%
Single margin of 300U*12650%=37950U
2022 Annual Strategy Guidance Record
February-December 2022///10 wins 1 loss
February complete/return rate 2500%///March complete/return rate 2500%
April complete/return rate 2626%///May complete/return rate 3698%
June complete/return rate 3081%///July complete/return rate 7033%
August complete/return rate 4694%///September complete/return rate 5046%
October complete/return rate 1438%///November complete/return rate 2362%
December complete/return rate -474%///
Total for February-December 2022: 34504%
Single margin of 100U*34504%=34504U
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