There are 4⃣ type of #BREAKOUTS
1⃣ Breakout with no retest
2⃣ Breakout with a re-test
3⃣ Breakout with a hard re-test
4⃣ Failed breakout.
We Will Explain it one by one with examples. Kindly Retweet it if you find it useful. #Nifty
1⃣ Breakout with no retest
2⃣ Breakout with a re-test
3⃣ Breakout with a hard re-test
4⃣ Failed breakout.
We Will Explain it one by one with examples. Kindly Retweet it if you find it useful. #Nifty
1⃣ Breakout With No Retest.
In this type of breakout, your stop loss becomes the lower boundary and your target is the depth of the boundary (712-614) = 98 points. Thus target becomes 712 + 98 = 810. Which gets achieved!
In this type of breakout, your stop loss becomes the lower boundary and your target is the depth of the boundary (712-614) = 98 points. Thus target becomes 712 + 98 = 810. Which gets achieved!
2⃣ Breakout With A Re-test.
In this type of Breakout we see the stock retesting its breakout and beginning it's upward journey again. We base target in this on the height of the triangle added or subtracted from the breakout price.
Sl near highest tested support on 1 Hour TF.
In this type of Breakout we see the stock retesting its breakout and beginning it's upward journey again. We base target in this on the height of the triangle added or subtracted from the breakout price.
Sl near highest tested support on 1 Hour TF.
3⃣ Breakout with a hard re-test.
In this you have your stop-loss below the chart pattern boundary and it is a tight stop-loss, you might get stopped out depending on the hard re-test. But
Pro Tip 🤫 to Re-Enter: Immediately after price recovers above pattern boundary.
In this you have your stop-loss below the chart pattern boundary and it is a tight stop-loss, you might get stopped out depending on the hard re-test. But
Pro Tip 🤫 to Re-Enter: Immediately after price recovers above pattern boundary.
4⃣ Failed breakout.
Pretty self explanatory. You get stopped out of this as the stock momentarily breaks out but cannot hold the breakout level.
In this keep protective stop losses. Find out the max tested support level on lower TF. Keep that your SL.
Can we get 100 Retweets?
Pretty self explanatory. You get stopped out of this as the stock momentarily breaks out but cannot hold the breakout level.
In this keep protective stop losses. Find out the max tested support level on lower TF. Keep that your SL.
Can we get 100 Retweets?
Tweet Inspired by a very well known CMT Mr. Aksel Kibar @TechCharts
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