What to look for in good swing breakout setup
- prior to breakout there is 5 to 20 days of shallow pullback or sideways move
- during the pullback or sideways move there is range contraction
- prior to b/o day stock has very narrow range bar or negative bar
- stock is not up 3 days in a row
- the move prior to correction/sideway action should be linear
- on b/o day there is volume and price surge
- closes near high
If you setup the scans I discussed yesterday and look for setups like these , you will find some good setups.The key is to be selective and focus only on good setups.
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3 comments:
Hi Pradeep have been a regular visitor to your blog since long. Recently came across a book called Top 10 Trading Setups by Ivaylo Ivanov which kinda reads almost verbatim of the ideas in your blog. Is he, by any chance, a stockbee member?
Best wishes n profitable trading for 2017!
He was.
Hmmm.... Thought as much.
A bit disingenuous of him not to accord credit where it was due.
In the tech analysis jungle out there, your blog is akin to a light beacon.
Building upon/ adapting your approach to individual circumstances like capital invested, trading vehicle, specific markets, trading timeframe, risk appetite etc is a given and, in fact, has also been actively encouraged by you yourself - but the fact remains that the original approach was your brainchild!
Good of you to display innate grace.
Regards,
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