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Fake Breakouts

Discussion in 'Technical Analysis' started by sujan4bw, Aug 15, 2012.

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  1. masihpatel

    masihpatel Active Member

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    Very knowledgable.
     
    masihpatel, Aug 18, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi Shabbir,

    It is making high top high bottom pattern but also it is making W breakout pattern too.
    I am dividing this chart in to 2 parts and by 1st part u can't say it is high top high bottom cause it has made only 1 top and then W break out @ 50. with good volumes.
    Correct me if I am wrong.
     

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    sanjay_sansanwal, Aug 18, 2012
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  3. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Dear shabbir It is making High top high bottom as well as w breakout too.

    In this type of chart what we should consider W break out or high top high bottom?

    Pz explain in detail where we should consider W breakout and where high top high bottom and if possible by pic. too.

    Regards,
    sanjay sansanwal
     

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    sanjay_sansanwal, Aug 18, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Higher tops higher bottoms in here.
     
    shabbir, Aug 18, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    In this pic I have also enter in trade because of high top high bottom cause I have entered just 2 days earlier.

    But my ques. was for previous W break out pattern where u can't say high top high bottom.
    Plz view the attachment.
    on my previous post where I divided the chart
     

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    sanjay_sansanwal, Aug 18, 2012
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  6. shabbir

    shabbir Administrator Staff Member

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    W is when the legs don't crack and so it suggestive that there is strong support at the lower levels.

    The break out levels can be from the middle leg of W or even other levels as well.

    Higher tops and higher bottoms can have multiple W
     
    shabbir, Aug 18, 2012
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