Well, we have understood various Breakout bars. It is very personal to different people how to use these bars. My view is that it is better to discard weak breakouts because they are probably just like discarded boats which are on directionless sail.
We are aware that breakouts should have a proper follow through otherwise they are likely to fail. Failure of breakouts through at us an opportunity to play failed breakouts.
We are betting on either side of breakout bars in order to make a killing. So, our set up is the breakout bar, and the entry will be on break of either high or low of breakout bar. Exits are based on the style and appetite of the trader. A scalper can exit on seeing a profit of 6 to 8 points profit. The scalper can expect a high hit rate because of low target. On the contrary, the day trader can exit first lot on seeing a profit of 20 points and trailing the stop depending on pivots formed or 20 points trail whichever the trader is comfortable with on second lot. The hit rate is low of day trader and he makes up his profits on long run. The choice is upto the trader which type of trades he wants to make.
This setup is to see the traders can now not complain of making losses on a fairly long period. The setup is not intended to give windfall profits either.
We are aware that breakouts should have a proper follow through otherwise they are likely to fail. Failure of breakouts through at us an opportunity to play failed breakouts.
We are betting on either side of breakout bars in order to make a killing. So, our set up is the breakout bar, and the entry will be on break of either high or low of breakout bar. Exits are based on the style and appetite of the trader. A scalper can exit on seeing a profit of 6 to 8 points profit. The scalper can expect a high hit rate because of low target. On the contrary, the day trader can exit first lot on seeing a profit of 20 points and trailing the stop depending on pivots formed or 20 points trail whichever the trader is comfortable with on second lot. The hit rate is low of day trader and he makes up his profits on long run. The choice is upto the trader which type of trades he wants to make.
This setup is to see the traders can now not complain of making losses on a fairly long period. The setup is not intended to give windfall profits either.
you added great stuff of volume analysis...i have seen traders of two class/s
one is expert of Breakouts and another is expert of Breakout failures.. they have achieved there level of expertise in there setups...
in my opinon traders have to select his comfort zone BT or BTF..then trading will be easy..(BT:Breakout trader BTF:Break out failure trader)
it does'nt mean that they will not know other topic.... they only trade according to there comfort setup/s