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Hi,
has anyone attempted to write a formula for Larry Williams Specialst
Trap?
Its basically a "selling trap" to quote Larry. Consists of a nice
uptrending market that moves sideways in box congestions for 5-10 days,
then breaks out to the upside with a naked close above the entire
trading range.The true low of the breakout then become the critical
point in the next 1 -2 days. If this low point tick is broken to the
downside then thre is a great possibility the upside breakout was false
and the market will retreat.
I have scanned a page from Larry's book to illustrate the Specialist
Trap placed in the Files catalogue.
Cheers
ROB
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