Indicator Notes | $ICNT | Breaking through the 0.14 level
First, the definition: Common criteria for determining whether a breakout is valid include closing on the other side of the level, failing to reclaim it on a pullback, and seeing volume pick up during the breakout.
Next, how to read it: The first rebound after the level is lost is often seen as a litmus test. If price is rejected near the level, the idea that support has turned into resistance is on firmer ground.
Don’t chase a trade at the most volatile moment. Wait for the candlestick to close and settle before assessing the move.
First, the definition: Common criteria for determining whether a breakout is valid include closing on the other side of the level, failing to reclaim it on a pullback, and seeing volume pick up during the breakout.
Next, how to read it: The first rebound after the level is lost is often seen as a litmus test. If price is rejected near the level, the idea that support has turned into resistance is on firmer ground.
Don’t chase a trade at the most volatile moment. Wait for the candlestick to close and settle before assessing the move.