Do not push size on breakouts with strong overhead resistances.
breakouts with a strong gap up% tend to top wick fail regardless of the share rotation and those that don't gap up tend to hold alot better overall
Trade Review by Tim Lento : 09/24/2019 (28:14) When shorting a fade or a breakdown, it’s important to take note of how far the high is to your potential entry (this is case by case) if you are shorting late in the pattern and it’s far away from the high based on chart visualization then it’s most optimal to take profits quicker into the fade then anticipating a big picture since most short sellers are shorting from or close to the high so if it’s down alot they will most likely take profit which would create a bounce and could counter your entry point. Do not chase if you are late to the move wait for a bounce to resistance etc, best to short near the highs or lower high.
Stay away from buying breakouts with this type of intraday price action with big one minute sell volume
nicholas27 Sep 06, 21 11:48 AM
Big sellers overhead looking to sell bulk of their shares into the highest volume day. A key way to know that there's hard selling especially to confirm that it's non-organic is when it's being sold at the highs and in one shot in a single candle with higher than the average volume. This usually indicates that it'll tamper with the breakout and will ultimately affect the entire momentum and closes below the b
nicholas27 Sep 06, 21 11:48 AM
breakout and gap down the next day usually.
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When tracking your strategy, use it as a guideline to put yourself in a better position on the trade. No one strategy is perfect. - Tim Grittani
The difference in it's range is very drastic and obvious that you should push size only on the best charts.
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