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In a message dated 98-01-19 13:12:50 EST, TProeber@xxxxxxxxxx writes:
> Sometimes (about 50% of the time), there will be a fake in the opposite
> direction of the eventual true breakout. How to filter ? . ? . ?
Joe Ross suggests the following.
1. Take the breakout, and set stops for a reversal at the other side.
2. Let the first breakout go and see if it falls back into the trading
range. Then take
2nd breakout in either direction. Should breakout and run, you missed
it and
wait for the next one.
He discusses these approaches in detail, in his books
Pete
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