break out and continuation

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Permalink Reply by Adam Horak on August 28, 2008 at 1:10pm

this trade shows that when you are range trading you are often in the position when the pair breaks the range and turns into a correction or trend... you can see by the entry price and support and resistance lines this was a range trade, however when we broke the support line we were already in the position, allowing for continuation, we now see the pair creating higher lows and lower lows as it pushes below each support line. all I am doing at this point is adjusting the stops and limits on the trade for support to maximize profits.

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