Hi all, Would someone be generous enough to post examples of pre breakout price action patterns that have made you money. Ideally I would like to see the pre breakout formation and the first candle of the breakout. I have been observing such formations, specifically on forex and DAX, but i am sure they happen across all markets, but this was a long time ago, i was not specifically focused on breakouts at that time, but I noticed those patterns many times going through charta, and now I want to go back to it and have a good idea of what to look for. Profitable traders only please.
You need to backtest your breakout strategy to get a large set of examples. On DAX it might be more profitable than on FX.
Of course I need to, it's not like I would go live risking even a cent without backtesting. So since you said on DAX it could be more profitable, I am assuming you know quite a bit about breakouts, so are you able to answer my original question if you have experience with it? Thanks
The number one sign a breakout will work (of course not 100% of the time) on any timeframe is the bar before before an upside breakout needs to be a down close, and vice versa for a downside breakout the bar before needs to be an up close. Many other signs as well.
You need to watch a bunch of Kullamagi's old videos if you want to learn breakout strategies. That strategy hasn't worked too well in this bear market of 2022 but when a bull market returns it will serve you well.
Hard to believe, sorry, i can provide multiple reasons why it is hard to believe, but I hate typing, if you would like to know why I say that, I will explain.
Kullamagi only trades stocks,he doesn't even trade options. So that probably wouldn't help you much. By the way for anyone interested Kris started streaming again this week on Twitch for the first time in 4 months. Not sure why though,market is kinda dead.