Agree. @volpri uses this stat quite a bit. I think the general idea is that after a successful breakout, you wait for the re-test of the level, and then go long if price doesn't go back into the range. Now of course its never going to be as clean as this, and each person has their own definition of what a re-test is, and some might even buy the BO and still make money, even if it fails, because they have small targets. The BO after all will probably need to go high enough that it runs stops, and that might be just enough for the BO trader to make a profit. So its all subjective.
Spot on. The initial breakout is all about gunning the stops. Once you realize this, you'll never look at breakouts the same way.
Why does everyone keep saying markets have hit ATH's? NQ has not via continuous contract, people tell me that doesn't matter. It does matter a lot. We will 100% clear it if we don't I will come back post I am an idiot, eat crow and never post here again.
With all the political stuff going on, inflation, housing prices, student loan resumptions... how and why you made this call is beyond me. The "Izzy bottom" back in March 2020 was one thing... pretty obvious for many... but this one was remarkable.
You must of misread my post, if you're saying we're above continuous contract high and you're right, than why would I stop posting, that means we did it. However, we are not above NQ continuous contract ATH yet. I am saying if we don't get above that I'll stop posting. I know you think you're correct and that's fine. You do realize things like this are just a distraction and have nothing to do with actually making money, particularly from a day trading perspective. That's actually the more important point here.