October continues to be one of craziest trading months of the last few years
The markets are on the verge of huge trend changes. It’s the best time for margin traders, who risk little and can make huge profits. With apps like SimpleFX WebTrader, you can open leveraged positions on multiple accounts in different currencies.
Use high leverage and risk little thanks to the Negative Balance protection system and no minimum deposits. Give it a try in October, trade with the lowest spreads throughout the month, and get a $500 cashback paid in Bitcoin.
October is going to be the craziest trading month in the last few years. In this article, we’ll explain to you how to recognize false breakouts as you will see many of them trading USD, GBP, gold, stock, and Cryptocurrencies in the next days.
When the market gets to previous highs or previous lows it’s a good opportunity to make a low-risk, high-reward trade as prices tend to bounce off the support and resistance levels.
However, this doesn’t work all the time. Otherwise, there would be no winning trades. Sometimes the price breaks through the barriers, and that’s an even better opportunity to make an exceptional profit.
There are plenty of false breakouts. What seems to be a new trend may reverse. That is why good entry points are very important, but recognizing the trend is what separates a good trade from a bad one.
How to recognize a false breakout? If the market stabilizes with a double low, it may be a false break. The price may cross the psychological resistance or support barrier, but then it would push back to the range it was before.
Then it breaks below - maybe the price will start trading low. The market reverses really quickly. We can take a stop loss at this low.
False breakouts could give you a great opportunity to make more money, as you can realize your previously planned strategy at a better price.
Here's an example. I'm trading BTCCNY. At this chart, each candle represents 15 minutes' worth of trading.
As I was hunting for a good opportunity for a low-risk-high-reward trade on BTCCNY, I've set the resistance level at ¥28076, which seems to be quite an established level. I want to open a short position as soon as the price approaches it, and set the stop-loss slightly above.
The market was nudging the support level, and at the moment we are discussing I could see that the price has not only approached it but broke through. Should I change my strategy and buy? I decide to wait for confirmation.
Let's take a look at what happened next. The moment discussed above is now marked with the cursor. There were two false breaks, and one more rally before the market bounced off the resistance level and went down.
We was able to make a profit on my short position with a relatively low-risk decision.
Using a setup of a false breakout can give you an excellent trading opportunity. However, you have to know, it doesn’t work all the time. You need to be disciplined with your stop loss, you do not want to be in a trend that suddenly falls.
Hope you found this tutorial useful. Remember, if you are looking for a handy trading app to trade, SimpleFX WebTrader with no minimum deposits and multicurrency accounts (including cryptocurrencies) is the right choice. Trade now and get the $500 cashback.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
The markets are on the verge of huge trend changes. It’s the best time for margin traders, who risk little and can make huge profits. With apps like SimpleFX WebTrader, you can open leveraged positions on multiple accounts in different currencies.
Use high leverage and risk little thanks to the Negative Balance protection system and no minimum deposits. Give it a try in October, trade with the lowest spreads throughout the month, and get a $500 cashback paid in Bitcoin.
October is going to be the craziest trading month in the last few years. In this article, we’ll explain to you how to recognize false breakouts as you will see many of them trading USD, GBP, gold, stock, and Cryptocurrencies in the next days.
When the market gets to previous highs or previous lows it’s a good opportunity to make a low-risk, high-reward trade as prices tend to bounce off the support and resistance levels.
However, this doesn’t work all the time. Otherwise, there would be no winning trades. Sometimes the price breaks through the barriers, and that’s an even better opportunity to make an exceptional profit.
There are plenty of false breakouts. What seems to be a new trend may reverse. That is why good entry points are very important, but recognizing the trend is what separates a good trade from a bad one.
How to recognize a false breakout? If the market stabilizes with a double low, it may be a false break. The price may cross the psychological resistance or support barrier, but then it would push back to the range it was before.
Then it breaks below - maybe the price will start trading low. The market reverses really quickly. We can take a stop loss at this low.
False breakouts could give you a great opportunity to make more money, as you can realize your previously planned strategy at a better price.
Here's an example. I'm trading BTCCNY. At this chart, each candle represents 15 minutes' worth of trading.
As I was hunting for a good opportunity for a low-risk-high-reward trade on BTCCNY, I've set the resistance level at ¥28076, which seems to be quite an established level. I want to open a short position as soon as the price approaches it, and set the stop-loss slightly above.
The market was nudging the support level, and at the moment we are discussing I could see that the price has not only approached it but broke through. Should I change my strategy and buy? I decide to wait for confirmation.
Let's take a look at what happened next. The moment discussed above is now marked with the cursor. There were two false breaks, and one more rally before the market bounced off the resistance level and went down.
We was able to make a profit on my short position with a relatively low-risk decision.
Using a setup of a false breakout can give you an excellent trading opportunity. However, you have to know, it doesn’t work all the time. You need to be disciplined with your stop loss, you do not want to be in a trend that suddenly falls.
Hope you found this tutorial useful. Remember, if you are looking for a handy trading app to trade, SimpleFX WebTrader with no minimum deposits and multicurrency accounts (including cryptocurrencies) is the right choice. Trade now and get the $500 cashback.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
Kadena Announces Annelise Osborne as Chief Business Officer
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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