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A pattern ii and all its variations like: ib,ob,iii,ioi,oio, etc. Are they all considered breakout mode patterns? If so, when traders see these patterns should they just enter stop orders or are market orders also acceptable?
Hi Newton!
They are all BOMs and it's better to let them trigger first because the move is likely to be strong in whichever direction the BO happens so don't want to frontrun these. So 1t stop entry above/below the setup bar. Also take a look at the bonus videos that Al recently added:
Cheers,
CH
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