DislikedHow do u handle false breakouts. I am been trying a similar strategy but got whipsawed a lotIgnored
I remember a statement made on this forum by Merlin some time ago.. He said "Never trade a breakout unless it follows a previous breakout." That statement resonated deeply with me and led to some research. I discovered that a number of very successful traders in interviews said the same thing from Jesse Livermore to present day greats! Wait for the pullback following a breakout. That works for me. Try to find the thread "Break Out Trading Strategy" by Phil Newton. He had some great videos on how to avoid false breakouts.
Cheers!
forexnetworth
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