Does anyone have a solid breakout detection system for 2019?
Watch the consolidation, draw two trend lines top and bottom to form a channel, when price action breaks the trend line wait ti see that it’s not false or a hook and go. Then jump on the trend until the next consolidation starts to form.
2 Likes
Your post about breakout forex strategy sound interesting. Please post the screenshot too…thanks.
Here is a screen shot I did for another thread this morning. It was an easy 100 pips trading the “V” note also not highlighted the small consolidations at the tops and bottoms, I call these pauses.
1 Like
here is a different example of consolidation breakout that occurred earlier, while my fav pattern is the Vee in the above example I will also trade the range of this channel.
1 Like
Ja
y Jay, agreed Kiss is best, in your chart however your geometry is incorrect.
You have a three bar with a good slope but then it turned into a consolidation not a triangle but a channel which will break out when it’s ready. However, when looking at the bigger picture we see that there is a strong pull back from the previous bullish trend. My suggestion is it will most likely break out in the direction that brought it, bearish, but we need to wait for the signal/breakout and then make sure it is not a fake out or it upon breakout it could also do a hook and go.
Im guessing hook which is fine just want that b.o.
Hook and go is what it say just like in basketball. The problem come in waiting to distinguish that it will go and it not a false break out.