What's on the chart: 1. A strong level formed by a limit order at 19.56. 2. This limit application is being taken apart, a pressure is formed. 3. A false breakout was made, after which we did not go up, the paper is pressed.
It's a safe scenario: entry after the fastening bar is formed. SL above the punching bar.
Someone else was talking about it break it out to the 26 ect... I respond to the wrong Trader. I see what you're saying , I was going to comment and say it might be a probe until we get price trading below the range.
sorry I over look at it.
schery0581
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are you referring on a break out on a down side?
Alexey_Malorodov
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@schery0581, Of course, that's what I mean. I clearly wrote the level I'm looking at, and the low bar.
schery0581
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well you can call it fake break depending on the time frame you're looking. The daily time frame there's no break out. price is moving in a range.
Alexey_Malorodov
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@schery0581, Maybe you and I have different notions about a false breakout? This is when the price went down beyond the level, and then went up. That's why it's false, because the price has broken through the level and hasn't fixed in a new zone. And then, no matter how you spin it, a false breakout can be seen on all timeframes.
@Alexey_Malorodov, Price have been moving in range since may 20 and price did not move above 24.14 I don't see a fake break out price did not even attempt to move above that range
Alexey_Malorodov
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@schery0581, Are you serious? Look carefully at the chart.
Level 19.56
August 10 low daily bar 19.43 (11:00-11:05 M5 )
Interactive Brokres, TWS platform.
Look carefully.
And yes, by the way, you can see this false breakout on this site too.
And on your graphics can not make anything out.
A lot of indicators, which, personally, interfere with me. Indicators are derivatives of the price. The price is primary.