Posted by: joetradingplace | July 27, 2012

Loonie Update

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Responses

  1. Very nice trade Joe. I was wondering what you meant by when you said you trade “false BO” but now I know. I learnt a similar method from Will (WMD) and has been one of my fav setups. Gonna start hunting them more often!

  2. I love trading false breakouts, they are a very effective tool for taking advantage of trapped bulls/bears. Usually when a breakout fails, traders who have been trapped in trading a BO panic and close their trades or their SL gets triggered, thus fuelling the trade in the opposite direction to the BO. I also love trading failed patterns.


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