Breakout Trading - Smart Play or Fool's Game?

[Redneck]

To close the loop

Heading into next week - range has evolved from horizontal to diagonal

Now, please do not take this to mean I have a downward bias - I have no bias


Context is not a forecaster - context is used to measure / gauge - current PA

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Tomorrow, being the first of the month - institutional money comes in

It an opportunity for the BSDs to either buy..., or sell into

Time will tell

RN

 

[Redneck]

15 min FB for shits and grins

RN

 

[Redneck]

More accurate view (imo) of the 15 min FB

RN

 

[i960]

Seems like a double-bottom, back up to the red arrow level. Who knows, we'll see what tomorrow holds for things.

 

[Redneck]

240 FB - no change to the context from Sunday's chart above

As classic example of price being worked both diagonally and horizontally - as I've seen

And a FBO of the diagonal to boot today - or was it

Time will tell

RN