End run? Fake out? More of the same….

Posted on Jun 24, 2010 by in Letters

Two things have occurred here in the hourly chart.  The little uptrend line was broken and it appears that price has returned to the congestion pattern.  Meaning that the supposed buy signal is canceled.  It appears at this moment to have been an end run, or a false breakout.  Given the conditions during this pattern this is no surprise.  It is patterns like this which drive traders crazy.

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