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Identification
- Multiple test of the same level - not a double top
- Flat top or bottom on a profile
Why are they formed?
- Auctioning process is halted by one or multiple participants holding the price
- Constant relading of orders prevents level breaking
What happens next?
- Level breaks - the persons halting the market are exhausted and move can continue
- Liquidation away from level as those playing the break give up
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