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84  Figure 18 shows the Canadian dollar with a breakout of the channel at the end of June. In this case, the lower channel line becomes an uptrend line, and I would exit on any penetration of the trend line. There are some traders who would exit only on a close outside the channel line. I have marked with a "D" on the chart three places where this would have been disastrous to do. Also, it should be noticed that anyone not having their stop in place ahead of time would have lost a great deal of money per contract on the breakout at the end of October. The only way that I know of to handle channel breakouts on sudden reversals is to reverse and go with the tide. I know a trader who didnt and got srpashed on all three of those sudden reversals in the Canadian dollar. It takes a lot of guts and a lot more cool to trade this kind of situation than are possessed by 99% of all traders.
BRITISH POON  Figure 17 The things to keep in mind while viewing this figure are: That an oscillator can at times give a jump on the breakout of the number two point; That an oscillator will not give as many signals as there are opportunities to trade one-two-threes, ledges, and hooks; ob/os is at 25%-30%/70%-75%,
8369  Figure 18 shows the Canadian dollar with a breakout of the channel at the end of June. In this case, the lower channel line becomes an uptrend line, and I would exit on any penetration of the trend line. There are some traders who would exit only on a close outside the channel line. 1 have marked with a "D" on the chart three places where this would have been disastrous to do. Aiso, it should be noticed that anyone not having their stop in place ahead of time wouid have lost a great deal of money per contract on the breakout at the end of October, The only way that I know of to handle channel breakouts on sudden reversals is to reverse and go with the tide. I know a trader who didnt and got smashed on all three of those sudden reversals in the Canadian dollar. It takes a lot of guts and a lot more cool to trade this kind of situation than are possessed by 93% of all traders.
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