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Hi Dan:
In the trade summary you mentioned that breakouts can be entry points in this method. Is looking for PA formations within a sideways market how you anticipate breakouts? Do you use Fibs and/or Trendlines?
I hope that I am not trying to overcomplicate things, but can you provide some guidance regarding how you analyze, and utilize breakouts? Thanks for all the great teaching.Ignored
I haven't gone into too much detail about breakouts yet because I feel the importance of grasping the method and simple entries with candlestick patterns (or "PA") is the best way to learn with my approach. For breakouts I tend to use trendlines and horizontal support and resistance. With trendlines I am looking for price to respect a counter-trend trendline with at least two or three touches and then for a breakout to occur with respect to that trendline.
For now though, I recommend to entries with PA only.
Regards,
Dan