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A case study in busted symmetrical triangles
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AT-August 2006-2
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"Busted" chart patterns tend to perform well after price breaks out in the opposite direction. Learn how to identify and trade a busted symmetrical triangle.
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Detailed Description
A busted chart pattern occurs when price breaks out, reverses direction, and then breaks out again in a new direction. Those trading in the original breakout direction are "busted" and suffer losses as price moves against them. Busted chart patterns tend to perform very well in the new breakout direction and are worth finding.
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