BTC briefly hit the previous high
then pulled back—this is exactly why the importance of a breakout entry matters
Even if you want to chase, you should wait for confirmation of the breakout before trading; otherwise you can’t be sure whether the price just tapped the previous high and then dropped
or whether it truly broke out. After the breakout, if there aren’t any good long setups, try entering a long only then; similarly, if it doesn’t break out and instead breaks down below the support, then you should enter a short position
If you learn these two points, you’re already better than those teachers who start acting like masters after only a few months of trading.
then pulled back—this is exactly why the importance of a breakout entry matters
Even if you want to chase, you should wait for confirmation of the breakout before trading; otherwise you can’t be sure whether the price just tapped the previous high and then dropped
or whether it truly broke out. After the breakout, if there aren’t any good long setups, try entering a long only then; similarly, if it doesn’t break out and instead breaks down below the support, then you should enter a short position
If you learn these two points, you’re already better than those teachers who start acting like masters after only a few months of trading.
