Breakout failure rate will depend on definition of breakout and the instrument and time of day. So, for some definitions, failure rate could be 90%, but for some other, it could be just 60%. Need to do your own research as this topic is very vast.
heavy sellers here. didn't expect to see a pinbar develop on 5 min, but it has not gone down in the bar next to the pinbar, which suggests bulls are still in control.
that work for ya? Good stuff for the knowledge bank and may reinforce assumptions or destroy them (90% of breakouts fail, LOL). I first read his stuff years ago and he tends be just anal enough to update the stats. Good man.