Courses › BLT | Bank Level Trading
The Boomerang Theory
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What this lesson covers
The boomerang is the pattern most associated with the BLT method, and this lesson explains what it actually is. At its simplest it is a fake out of a third tap, and the lesson works through a wedge pattern to show it forming. The reasoning behind it starts from something conventional traders do without questioning, which is trading the third touch of a pattern. Because that behaviour is so widespread, the orders cluster there and the third tap is exactly where the market is most likely to push through, take those stops and reverse. The boomerang is the trade on the other side of that. The lesson covers what makes one valid, since the shape alone is not enough, and how to distinguish it from a genuine break.