Those backtests wipe out the “smart guys” who got on the long on the breakout, move their stop to breakeven, and then get stopped out before the real move happens….
Double tops and double bottoms are this same beast.
Amazing not one single book or research has previously identified that to me….the most common, most flagrant thing. I nicknamed it, DRTV pattern, Dog Returneth To Vomit…..
Manipulation, or just a natural function of the market? Who Cares? Trade it!
And get over the "gotta be right" deal which makes no sense in trading, got it? It makes no sense to insist on being right in trading, it is a completely different game than all other fields which we may excel in.
If I think this goes up, and instead it breaks down, don't just close the trade, reverse it!
DTRV---Good simple graphic image that you can remember in the heat of the battle.
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Insightful and Useful Comment!