Breakouts

[cashmoney69]

Quote from cashmoney69:

UTHR. After a 12pt gap down, and a strong move to try and fill

this gap, UTHR, may be near the end of its rally. A negative

divergence has also been forming for some time now, but not

sure if taking this short off the daily is jumping the gun. A 50%

retrace would yield about 10 to 12pts - A very attractive trade.

out uthr with 8.2pts, probably going to be my best trade for the month. +401.80 PnL

peace

cm69

 

[cashmoney69]

breakout confirmed for PNRA, missed this trade after being stopped out last time. damn, what a sweet breakout too.

 

[gifropan]

Is it correct to assume that most breakouts fail and,therefore, statistically speaking a better strategy would be to sell into upside breakouts and buy into downside breakouts. I mean this as purely a good entry. Obviously one must be careful in case the breakout may have follow through and an appropriate stop myst be employed.