What is a level breakout? A large number of orders are located behind the level. Either this is a limit entry order if the price overcomes the level, or it is a protective order - it is triggered if the price goes out of our way and overcomes the protective zone in the form of a level
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@Pinnaclesfx Test it mate. The vast majority of funded traders are not trading this retail crap.
Pinnaclesfx
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@davidbarratt, I agree with you in terms of supply and demand and also to point out that these patterns sometimes fail but remains a helpful tool for price action, we the retail traders for sure don't have the money like the big guns in the market whose method of supply and demand is their style of trading. A retail trader uses all the tools available to him to ensure that he makes money while trading, the use of supply and demand, price action patterns technical indicators etc. just to succeed. so it's a bit of a struggle for everyone but we can't just rule out the knowledge of breakout patterns, they are a very good guide. Cheers!
davidbarratt
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@Pinnaclesfx, It remains a helpful tool for BFI's when hunting for stop losses
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