A very simple price only chart here and this is thanks to Remo who runs www.chartsview.co.uk who gave the heads-up on this during the live trading chat on his website today.
What we have is a backtest of the 123-low breakout level. These trades are actually even better than simply trading the 123-low breakout if they work out because the resulting move, again if it works, ought to be stronger than the original breakout where doubt still remains and consequently we see the drop back to the breakout level.
Normally I'd have a stop below the higher low but the doji offers a tighter option below 79.5p.
What we have is a backtest of the 123-low breakout level. These trades are actually even better than simply trading the 123-low breakout if they work out because the resulting move, again if it works, ought to be stronger than the original breakout where doubt still remains and consequently we see the drop back to the breakout level.
Normally I'd have a stop below the higher low but the doji offers a tighter option below 79.5p.