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If price spends too much time at support / resistance, it is more likely that the support / resistance zone is very strong and price is very weak to break this zone. In other words, a support / resistance zone breakout is usually valid & convincing.....
If price spends too much time at support / resistance, it is more likely that the support / resistance zone is very strong and price is very weak to break this zone. In other words, a support / resistance zone breakout is usually valid & convincing.....
if it happens at the least possible time, probably in one or a couple of candles. A breakout with many candles is probably a fake breakout. Characteristics of a breakout candle : a) Strong candle, ideally with more width than the previous candles and having better body %.....
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b) Strong Volume, usually higher than the previous candle volumes; in case of Index, volume is not available; hence this can be used in futures / stocks. Usually in a liquid instrument a strong candle is caused by strong volume, which is not the case with illiquid stock...
b) Strong Volume, usually higher than the previous candle volumes; in case of Index, volume is not available; hence this can be used in futures / stocks. Usually in a liquid instrument a strong candle is caused by strong volume, which is not the case with illiquid stock...
