According to Thomas Bulkowski, a legend in the chart pattern arena, real breakouts pullback less than 50% of the time. (Those interested can read his excellent "Chart Patterns: After the Buy" book, for example).
all breakouts pull back eventually. because a pull back means weakness so very strong breakouts may not weaken for a longer time a pull back may be one bar or even a bar with a big tail.....Bulkowski is very traditional. it depends what you are looking for. i do not look for perfection.....only money Brooks says you can enter on any good looking strong bar. the only reason you will wait for a pull back is to reduce your risk. Also Bulkowski definition of break out is very traditional........meaning breakouts from a definite range or pattern. Brooks is very different ; his definition is very wide and generic.
Thomas Bulkowski studied pullbacks (and other chart pattern formations) for more than 30 years, so he knows his stuff. But maybe you can share your own studies on that subject, yes ?
of course he does.....Like Einstein knew his stuff. what you have to decide is how relevant it is to where you want to go and what you are trying to do.
"Some" author, you said? Right. By the way, how many books/articles did you publish so far on that breakout subject? No comment, you amateur.
yes. trend resumption is the oldest activity in this world after mating. once a trend pull back then you can enter-remember you only know that is has pull backed after the fact, in hindsight. you can also enter on the bar that breaks out and sit through the pull back or add there again. the pull back will end usually in a DT/DB defined in a general way like Brooks does. meaning the DB/DT may not need to be text book perfect: HH and LH also qualify as a DT. again the DT is known only in hindsight. so once the DT is confirmed then enter if the bar that confirms DT is a good signal bar.
Excellent comment, the pros usually fade "breakouts" in a range market. In fact, and most of the time, they (the so called SMART money people) create these phony breakouts...