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How To Combat Fakeouts

(1) The document discusses how to identify and combat fakeouts in forex trading by learning to read candlestick patterns and stories. (2) It provides examples of bullish and bearish fakeout breakouts, explaining the candlestick formations that indicate a fakeout and breakdown of price movement. (3) Tips are given to wait for candle closures on 15min and 30min timeframes, keep stop losses above/below previous candles, and apply this strategy during volatile market times.

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Langit Chiba
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642 views3 pages

How To Combat Fakeouts

(1) The document discusses how to identify and combat fakeouts in forex trading by learning to read candlestick patterns and stories. (2) It provides examples of bullish and bearish fakeout breakouts, explaining the candlestick formations that indicate a fakeout and breakdown of price movement. (3) Tips are given to wait for candle closures on 15min and 30min timeframes, keep stop losses above/below previous candles, and apply this strategy during volatile market times.

Uploaded by

Langit Chiba
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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How to combat Fakeouts

Hello everyone. First of all I would like to thank my team in the main forex group. I would like to
thank ForexFamily, I would like to thank all my fans around the world and I would like to thank
all the haters around the world who have given me so much love and never given up on me. Since
I started forex, I was told that beware of fake outs, stop hunts, you know the regular trader way.
But during the last 4 months we have been able to read the candles and tell a story, by finally
learning to read the candle stories we figured out how to battle with fake outs. This work has been
in works for years and years. We have finally broken the code. I hope this can help a lot of
people out there.

Please post this PDF anywhere you want. Feel free to distribute it. Also know this, Raja Banks
wrote this PDF.

Instagram: @wicksdontlie
Course info: email : [email protected]
Bullish Fake out:

This is a bullish fakout break.


(1) Price formed resistance at (A).
(2) Broke out and retested at (B).
(3) Price found resistance at (C), gave a FuckYou candle and closed at (D) below the breakout point (B) making it
under resistance now (E).
(4) Since price is back in the range, it retests resistance (E) and continues down the range (F).

Bearish Fake out:

This is a bearish fakeout:


(1) Price found support(A) rejected and broke down at (B).
(2) Retested (C) and then got rejected at (D) to come back into the range and close at (E).
(3) Since price is now back in the range, it retests support (F) and continues up the range to (G).
TIPS:

Wait for candles to close ideally on the 15min and 30min time frames. Keep SL above/below previous candles.
No questions please. None will be answered. Keep this in volatile times of the market. Yes you are right this looks
like a head and shoulders, if you were so smart, how come you couldn’t figure it out. God Bless. Haters gonna
hate.

Here is a bonus chart.

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