Courses › BLT | Bank Level Trading
When to Set A Boomerang Limit Order
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What this lesson covers
This lesson covers where to place a limit order on a boomerang setup. The pattern is the starting point, but the placement comes from the confluences you can find around it. Equal lows are the clearest example, since they represent unfilled liquidity and price behaves as though drawn toward them, which makes them a natural point of interest. The lesson works across the chart identifying where these areas sit, and is clear that equal lows are not the only qualifying confluence. Other structures serve the same purpose when they line up with the pattern. The practical result is an order resting at a level with more than one reason behind it, which is what separates a considered limit entry from a hopeful one.