Learning to catch High Probability Breakouts
- Thread starter amitrandive
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BNF 5 Min TF. Looks quit bullish. Today MACD in this example is on the bottom as it yesterday around this time was on top. Seeing yesterday this top in MACD at this time I did not much believe in a stronger up move in this market. Prove followed yesterday in the afternoon. Would be nice if today the prove for the up move shows on the chart according to MACD and what is seen in the chart the way I look at. Let's see.
Update:
Prove came as seen in the following end of day chart with the same TF and with the same parameters and R&S levels:
Update:
Prove came as seen in the following end of day chart with the same TF and with the same parameters and R&S levels:
Last edited:
BNF 5 Min TF. After the gapp down it is forming a nice little symmetric triangle. A break out of it should follow. MACD on the bottom, so a little break out to the upside could may follow on the chart.
Yes, you are absolute correct with your statement that "Sym Triangles" can break out on any side. 
In most cases it helps to wait after the first break out on any such triangles. Waiting for a prove of what is going on. Some would argue: Then we are not from the begin with any occurring move. And yes: This is the point which would have to be accepted when waiting for any such prove in what ever defined way for the occurring market direction.
In my comment with the chart I thought more of an up direction and less on an ongoing down direction. This because of the MACD which is so far on the bottom. But I have to say that the parameters for MACD are not the standard once instead I changed them to double and this makes it very slow and gives a lot of room to the chart.
Also be aware that those observations are done on testing this market and less on ongoing trades in this market.
In most cases it helps to wait after the first break out on any such triangles. Waiting for a prove of what is going on. Some would argue: Then we are not from the begin with any occurring move. And yes: This is the point which would have to be accepted when waiting for any such prove in what ever defined way for the occurring market direction. In my comment with the chart I thought more of an up direction and less on an ongoing down direction. This because of the MACD which is so far on the bottom. But I have to say that the parameters for MACD are not the standard once instead I changed them to double and this makes it very slow and gives a lot of room to the chart.
Also be aware that those observations are done on testing this market and less on ongoing trades in this market.
Yes, you are absolute correct with your statement that "Sym Triangles" can break out on any side. In most cases it helps to wait after the first break out on any such triangles. Waiting for a prove of what is going on. Some would argue: Then we are not from the begin with any occurring move. And yes: This is the point which would have to be accepted when waiting for any such prove in what ever defined way for the occurring market direction.
In my comment with the chart I thought more of an up direction and less on an ongoing down direction. This because of the MACD which is so far on the bottom. But I have to say that the parameters for MACD are not the standard once instead I changed them to double and this makes it very slow and gives a lot of room to the chart.
Also be aware that those observations are done on testing this market and less on ongoing trades in this market.
In most cases it helps to wait after the first break out on any such triangles. Waiting for a prove of what is going on. Some would argue: Then we are not from the begin with any occurring move. And yes: This is the point which would have to be accepted when waiting for any such prove in what ever defined way for the occurring market direction. In my comment with the chart I thought more of an up direction and less on an ongoing down direction. This because of the MACD which is so far on the bottom. But I have to say that the parameters for MACD are not the standard once instead I changed them to double and this makes it very slow and gives a lot of room to the chart.
Also be aware that those observations are done on testing this market and less on ongoing trades in this market.
I do not follow MACD, as these indicators do not give true picture of a move. So can not comment on its use.
@elwavetrader
When studying your profile it is interesting to see that you never share any thing here in the forum instead all the time only try to suck out informations from any body here. If you like to do so, fine and you are noticed from others now about this. And I am clear: No forum rules do not allow this.
When studying your profile it is interesting to see that you never share any thing here in the forum instead all the time only try to suck out informations from any body here. If you like to do so, fine and you are noticed from others now about this. And I am clear: No forum rules do not allow this.
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