Sir,
How to identify clear Breakout & Breakdown confirmation & and recognise false breakout???
- If it breakout, and then do not reverse back till 3;30
- If it breakdown, & then do not reversed up till 3:30
These are clear breakout & breakdown confirmation
- When it breaksout but then reverses back then its false breakout.
Wait till trading is over for sureshot 100% confirmation.
use rsi,volume candle and other indicators to identify wether it is true or false breakout.
Could you briefly describe how rsi, volume candle can be used to indicate a false breakout.