how to correctly trade support resistance

[new digital]

Are charlatan education sellers teaching you to trade breakouts? 80 % of breakouts fail, market only breaks out 20 % of the time. Wait to trade failed breakouts.

A fake breakout is when price breaks out above or below a key support or resistance level, but then retraces to hit the stops of the breakout trader. This is the worst case scenario for a breakout trader that enters in a trade as soon as price breaks.

how to correctly trade support resistance

Test and Retest | Reliable Support and Resistance Chart Pattern | Support and Resistance Trading

 

[Ary Barroso]

Support/resistant is very much important issue to me since I trade based on my PA trading knowledge. Daily time frame is my most favorite for identifying the valuable levels of the current market.