When price is in a clear defined range:
Breakout traders are waiting for a break to the upside or downside.. that is why the first breakout of a range is usually a false one to trap them.
And we can reasonably expect two targets after a TSxM:
1- 50% of the range
2- range low
Breakout traders are waiting for a break to the upside or downside.. that is why the first breakout of a range is usually a false one to trap them.
And we can reasonably expect two targets after a TSxM:
1- 50% of the range
2- range low
Best time to find the pattern are:
1- London
2- London close
3- when the 15:00 - 16:00 Macro ends
1- London
2- London close
3- when the 15:00 - 16:00 Macro ends
Another one
Duration of range: 1 and a half hour
Duration on trade start to finish (range high to range low) : 20 minutes.
3rd fourth of 4h candle
Duration of range: 1 and a half hour
Duration on trade start to finish (range high to range low) : 20 minutes.
3rd fourth of 4h candle
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