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Chapter 20, Part III. Trading Fakeouts. Page 5

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

    Aug 28, 2009
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    1. First, there are rules in Chapter 8 about support and resistance where we discuss the Wash & Rinse pattern;

    2. Chapter 10 is when we’ve discussed that the market could pierce levels, especially when it tends to be reaching for a Fib extension target;

    3. Chapter 11 is about dynamic support and resistance;

    4. Chapter 14 has examples of trading basic patterns – to catch the first signs and get into position in advance, so that to come to the crucial point, such as a neckline can be done calmly. Second is to be aware of strong Fib levels just outside the pattern, since the market could reach them and reverse right back leading to a failed breakout;

    5. Chapter 18 is about divergences, since this signal could give an early hint on a possible breakout

    6. And, finally the lesson of Chapter 20 – since volatility and market’s momentum could you tell whether we expect a true breakout or not.
    Hamza Samiullah likes this.
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