Disliked{quote} this u or boob is a characteristic seen all day everyday as explained better by others.i dont trade the boob but i am aware of it and it signifies my initial interest. i found during less volatile periods i can determine if this pattern should form.after half shape the following candle determines the probability as to weather price will fade or take out the high or low depending initial direction. i made 2 trades today using this technique .both on cable and both from exactly the same level,the first one traded live in my journal.both trades...Ignored
So it is very very frequent, i`m sure now it's not randomly formed.
"There's a sucker born every minute" - P.T. Barnum