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Came Madill 2.6 that three things that can happen in a range.
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So remember guys Rangers have been about 70 percent of the time.
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They price ranges more often than it Trents that's what the statistics say.
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So there are only three possibilities that can happen in a range.
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Right.
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The first is a break out second as a first grade or the third option which is tri's being contained
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in the range.
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OK.
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No matter what the shape of the ranges at which we've covered in model one it could be a triangle range
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a rectangle diagonal Channon a pennant a flag or whatever it is red.
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But the three things that can happen are simply a break out of Fosbury or contained.
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OK.
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And by looking at the right time frame we can have direction about his let's understand deeper what
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it means to find direction.
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Right.
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So we can see here to channel
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remember that three things can happen are tri's makes a break out right which happens over here.
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It made a false break right here.
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And it's contained right here knowing that three things can happen.
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When prices at the right hand edge of the screen here right here only looking at this part of the puzzle
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here.
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So the thought process is to think if price is going to make or break out of it's simply a fast break.
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Right.
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A bit of break out then the action will be to the downside.
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But it's a fast break because what happens here is this turn in the market a V-shaped or OK.
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So from this point on which direction is up up up up up until it hits the top of the channel.
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What happens here Price what's containing the range
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it stayed contained in the range.
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This is trying to make a break out but a fast break happens that.
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So from this point the Bice's done down all the way up up again and up to this point we should be thinking
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OK is press going to break out.
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Is it simply going to make a false break or if you're going to be containing the range.
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So again break that action bias is down from this 9.
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It's up from this point
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right.
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Gas prices contain.
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And then finally at the break.
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Done.
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Let me put up another example.
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Here's another range.
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But this time
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it's more as a narrowing which right instead of a channel.
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When you first draw a trend line.
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Connect these two dots and one or three things that could happen
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one to break out too fast break is contain.
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When we are able to make out the kind of range prices transform there are only three scenarios the price
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could do in a range.
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First one trying to make a first rate
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the second one is containing.
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And the third one price they contain here.
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So at this point there actually is down price never make it to the bottom when he had the upside here.
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The action is still down and right here its a began finally it broke out of the range here
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this Kindle.
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So this is how we have a directional bias in a range.
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OK another example.
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So we have here a rectangular in
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member a big down move.
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Strong momentum action instead the downside and then range forms.
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Right.
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So despite its a fake out so fast break right.
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So you could be looking for shorts from this point onwards here.
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What happens metaphor's break right looks are finally trysted break out but it reversed again.
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So thats another false break
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finally it broke out over here retested and up in a way so Direction is done up and right over here
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when prices at this point you have to have those three scenarios in your head.
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Okay.
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Is this a break out.
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Is this a false break or is it going to be contained in this case its a fast break.
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Right.
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But this is a very long week.
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Lots of traders are probably trapped in this move here digging in to break out maybe another break.
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Eventually reaching out Jane and the one here
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I want you to pay attention here to this most here so a lot of break traders are trapped here right
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thinking its a legit break out but its a fake break out.
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Its a false break ins that so understanding that there are three possibilities that could happen may
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give us an earlier hint by looking at price action on the lower timeframe.
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On.
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It looks like a clear breakout to a lot of us.
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We do understand that there is a possibility of a stakeout happening.
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So for those of us who are able to spot this as a false break we could trade this to the upside.
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Okay.
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And that wraps up this chapter.
7328
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