$ONDO Breakout and Retest on Daily TF, or just a FAKEOUIT
ONDO
Daily Update 👀
Perfect Bullish Engulfing on the Daily timeframe. Breakout of the pattern and fast retest after that.
Looks too good to be true for me, also in retail patterns like this one, we open our long position inside of the triangle before the breakout. Because most of the time when we have the chance to retest the pattern it is more likely that the breakout was fakeout.
Declining Volume in a breakout is NOT a good sign for pottencial long.
Open interest is rising, so the trap is set. And last but not least, never trust the Monday price action!
Perfect Bullish Engulfing on the Daily timeframe. Breakout of the pattern and fast retest after that.
Looks too good to be true for me, also in retail patterns like this one, we open our long position inside of the triangle before the breakout. Because most of the time when we have the chance to retest the pattern it is more likely that the breakout was fakeout.
Declining Volume in a breakout is NOT a good sign for pottencial long.
Open interest is rising, so the trap is set. And last but not least, never trust the Monday price action!