what i mean is, say you are trading the previous sessions high and low. for example, you are trading the asian session high and low during the london session.
often what happens is price breaks the high or low but reverses. i.e. the breakout is a fake.
is there a better way of identifying whether the breakout will fail or not ? is there a better way of identifying a fake breakout in advance ?
at the moment i try to ''predict'' if it is going to be a fakey through technical analysis, but the point of this thread is to establish if there are better ways of identifying a fakey.
iam not an advocate of indicators, but any good indicators in this case would do.
thanks
often what happens is price breaks the high or low but reverses. i.e. the breakout is a fake.
is there a better way of identifying whether the breakout will fail or not ? is there a better way of identifying a fake breakout in advance ?
at the moment i try to ''predict'' if it is going to be a fakey through technical analysis, but the point of this thread is to establish if there are better ways of identifying a fakey.
iam not an advocate of indicators, but any good indicators in this case would do.
thanks