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Chapter 20, Part III. Trading Fakeouts. Page 7

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 22, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    One thing that you do not want to see is an explosive breakout out with just straight angle:


    Chart #2 | 15 min EUR/USD
    [​IMG]

    You want to see gradual move and preferably if market shows some long tales during breakout – spikes or bearish engulfing patterns, doji etc.

    Pipruit: Ok, I understand – If market just explodes – it’s better to step aside and do not fade breakout, since momentum is strong. We rather want to see a gradual move during the trend, so that a fakeout becomes probable. It’s better to watch for them, since it’s preferable if the market forms some candlestick reversal pattern, or at least indecision. But, Commander, how do we step in – just enter in a row with the and hope that this will be a failure breakout?​
     
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