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TFC Commodity Trading Forum

Re: THIS IS WAR!!!!!!!!!!!!!!!!

When it comes to a breakout of the TR, I found that a good test(one that retraces to the TR line and then resumed direction of the break by a significant amount)) of the breakout line usually occurs between 3 to 4 days and then 7 to 8 days(if the 3 to 4 failed to materialize). Also, when the price breaks the TR the bars between the breakout and the test of the breakout had to "break free" of the breakout line. Meaning that, if price broke out below a TR there needed to be two bars with highs that did not contact the breakout line(bottom of the range in this case) then on day three or four make contact with the bottom of the TR.

2 days closing back inside the range should raise flags as to break out failure.

I used the same numbers for corrections but then again corrections, in my way of looking at it, are little more than price checking the last price range it left.