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How do you know which direction it's going to go? I've looked at a few charts today with this setup and there are a number of times when it breaks out starts going up, for example, and then immediately shoots down the opposite direction. If I had gone in for a buy I would have lost. What am I missing?
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What stopped you from making an entry at 14:00? With a full chart up we can see that it would have been useless, but ...