NASDAQ:OTRK Guys, paper is for those who understand and know how to trade in false positives.
What's on the chart: 1. Strong level, formed by a gap + paranormal bar. 2. 25.6% movement passed without failures. 3. The approach to the level of the paranormal bar. 4. Formation of a false break-up by two bars with a bias into a long zone.
Scenario for today: Entering with a gap from the level of 20-30 cents. SL calculated, at 0.5% ATR. Potential with first stop in the area of 55
Trade closed: target reached
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That's how a false breakouts works. Despite the fact that the direction is determined correctly, I could not enter the trade. In my trading strategy the distance from the level to the Low was too big. Big risks in trading - this is not about me. I hope that some of you still managed to make money on this.