When a defined breakout scenario is met, trading opportunity exists in terms of breakout continuation (going further in the same direction) or breakout pull-back (returning to the past level). To further your research on price action trading, you may want to look into some courses like the ones offered at Wyckoff Analytics. Another option is to place[…]

Bear in mind that for both cases, we’re not talking about them happening only one time, the more this scenario repeats of a price hitting a specific level and reversing, the stronger  and more significant the level becomes. Brooks16 observes that a breakout is likely to fail on quiet range days on the very next[…]