Why Patience is More Important Than Technical Analysis (TA) ‼️

Take a look at this $PEPE chart. It has been trading in a rising wedge pattern, which is traditionally considered a bearish reversal pattern.

Usually, the price gets rejected at the upper resistance and bounces off the base support. Recently, we saw a clear breakdown of this bearish pattern. This is exactly where many beginners get trapped. By reacting only to the pattern breakdown, many traders rushed into short positions.

As you can see, $PEPE quickly reclaimed the broken trendline, using it as support and trapping the bears. Those who entered early either hit their Stop Losses (SL) or faced liquidation.

I was also waiting for this breakdown to open a short position, but I chose to wait for a retest confirmation. When I saw the price reclaim its position inside the pattern, I knew it was a "fakeout" trap.

That little bit of patience for a retest saved me from a losing trade.

The Lesson: Don’t rely solely on technical patterns. Always wait for price action confirmation before entering a trade. Stay disciplined! 📈

#PEPE‏ #TradingStrategies💼💰 #trading #analysis #BTC90kChristmas