In an uptrending stock, does a FOLLOWUP breakout need to break the HIGH of the overall uptrend to be considered a followup breakout? Refer to this picture I drew :) Posted Sep 10, 20 5:03 PMbygolfr7kCategories Technical AnalysisViews 188 / 2Received 2 KarmasView previous comments1TriumphantTrades Sep 11, 20 2:26 AMRight, because that lesser high isn’t the high of the chart at that time, just extra resistance which can later be support if it does breakout 2BBaccSoon Sep 12, 20 5:55 PMYes, a followup breakout needs to break high of day to technically be considered a breakout. I like to call those little mini breakouts you are referencing as 'consolidation breakouts.' They can be a great gauge for predicting high of day breakouts.golfr7k Sep 12, 20 11:23 PM@TriumphantTrades Awesome, thank you :)1golfr7k Sep 12, 20 11:23 PM@BBaccSoon that makes sense. Thanks a lot :)!Join now or log in to leave a comment
1TriumphantTrades Sep 11, 20 2:26 AMRight, because that lesser high isn’t the high of the chart at that time, just extra resistance which can later be support if it does breakout
2BBaccSoon Sep 12, 20 5:55 PMYes, a followup breakout needs to break high of day to technically be considered a breakout. I like to call those little mini breakouts you are referencing as 'consolidation breakouts.' They can be a great gauge for predicting high of day breakouts.
Right, because that lesser high isn’t the high of the chart at that time, just extra resistance which can later be support if it does breakout
Yes, a followup breakout needs to break high of day to technically be considered a breakout. I like to call those little mini breakouts you are referencing as 'consolidation breakouts.' They can be a great gauge for predicting high of day breakouts.
@TriumphantTrades Awesome, thank you :)
@BBaccSoon that makes sense. Thanks a lot :)!
Join now or log in to leave a comment