Lebanon Map on WWen straying from the regular path, definitely preferable is to have one special condition on your side: a quick retest of the 2 5ema after entry (very common) should not shake out the trade. The subsequent break above bar 7 was still very much in line with the trend, but the offer lacked the ideal features of a high-odds pullback reversal. The signal bar was a one-bar turnaround on a second pullback (not necessarily a major deal-breaker), and not far above it there resided some blocky resistance within the 5-6 progression. Considering the bullish climate, this offer was not entirely devoid of appeal, but probably an easy skip to the more conservatively inclined.
Prices found their way up again and not much later even built up towards another bull break (8).
Photo Gallery Lebanon Map
Lebanon Map Images
Note: A continuation breakout in the highs or lows of the market, particularly near the close of the US session (or in lunch-hour doldrums), can be a very tricky proposition, for such event often lacks the volume necessary to force a substantial break. And contrarians may counter more aggressively as well.
Lebanon Map 2016.