UnknownUnicorn5174798

How to avoid Fakeouts and find breakouts for noobs

Ausbildung
BITFINEX:LTCUSD   Litecoin

You have to set support and resistance lines. those are easy to see levels of indecision.
Then find the average price, this is used to signal the end of the channel when the price action finds it as resistance .
If the price goes above the average price it will most likely going up and below, going down.
set you buy limit slightly above the top of the channel because if its a fake out you'll buy when you target is hit then it'll drop down but if it is a real break out it'll keep going and then hit your target.
When to sell is completely up to you. But I would sell before hitting the next level of resistance and getting stomped down.

**If it goes down from the support line just stay away until it bottoms out and then restart this process.
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